Haywood Securities brokers deal for exploration at Midway gold project
By Susanna Moon
Chicago, Oct. 25 - Strongbow Exploration Inc. said it appointed Haywood Securities Inc. as the agent for a C$3.6 million private placement to sell up to 15 million shares at C$0.24 each on a best efforts basis.
The company issued the shares at a 7.69% discount to its closing price on Oct. 22.
Proceeds will be used to fund exploration activities at Strongbow's Midway gold project in South Carolina as well as for general working capital.
The deal is expected to close on Nov. 15.
Strongbow is a mineral exploration company based in Vancouver, B.C.
| Issuer: | Strongbow Exploration Inc.
|
| Issue: | Shares
|
| Amount: | C$3.6 million
|
| Shares: | 15 million
|
| Price: | C$0.24
|
| Warrants: | No
|
| Agent: | Haywood Securities Inc.
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| Pricing date: | Oct. 25
|
| Stock symbol: | Canada: SBW
|
| Stock price: | C$0.26 at close Oct. 22
|
| Market capitalization: | C$18.18 million
|
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