By Sheri Kasprzak
New York, Feb. 27 - Baltic Resources Inc. plans to raise up to C$2.4 million in a private placement of stock.
The offering includes up to 6 million and at least 4 million shares at C$0.40 each.
Pope & Co. Ltd. is the placement agent.
The deal is set to close March 30.
Proceeds will be used for exploration of the company's properties in Ontario and for working capital.
Toronto-based Baltic is a mineral exploration company.
| Issuer: | Baltic Resources Inc.
|
| Issue: | Stock
|
| Amount: | C$2.4 million (maximum); C$1.6 million (minimum)
|
| Shares: | 6 million (maximum); 4 million (minimum)
|
| Price: | C$0.40
|
| Warrants: | No
|
| Placement agent: | Pope & Co. Ltd.
|
| Pricing date: | Feb. 27
|
| Settlement date: | March 30
|
| Stock symbol: | TSX Venture: BLR
|
| Stock price: | C$0.45 at close Feb. 27
|
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