By Devika Patel
Knoxville, Tenn., Feb. 26 - New Horizon Uranium Corp. priced a C$5 million private placement of units.
The company will sell 12.5 million units of one common share and a half-share warrant at C$0.40 apiece. Each whole warrant will be exercisable at C$0.55 for two years.
Proceeds will be used for exploration, general working capital and administrative purposes.
New Horizon is a uranium exploration company based in Richmond, B.C.
| Issuer: | New Horizon Uranium Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$5 million
|
| Units: | 12.5 million
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.55
|
| Pricing date: | Feb. 26
|
| Stock symbol: | TSX Venture: NHU
|
| Stock price: | C$0.38 at close Feb. 25
|
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