By Sheri Kasprzak
New York, Sept. 19 - Bell Resources Corp. said it has completed a non-brokered private placement for C$1,319,726.
The company sold 1,422,000 flow-through shares at C$0.25 each and 3,856,905 non flow-through units at C$0.25 each.
The units are comprised of one share and one half-share warrant. The whole warrants allow for the purchase of another share at C$0.30 each for one year.
The deal was downsized from the C$2.25 million offering of up to 6 million flow-through shares and up to 3 million units under the same terms, first announced on June 28.
Based in Vancouver, B.C., Bell Resources is a base metal exploration, development and production company. The proceeds will be used for exploration programs on the company's mineral properties in Canada and the United States. The remainder will be used for working capital.
| Issuer: | Bell Resources Corp.
|
| Issue: | Flow-through shares and units of one share and one half-share warrant
|
| Amount: | C$1,319,726
|
| Pricing date: | June 28
|
| Settlement date: | Sept. 16
|
| Stock price: | C$0.30 at close June 28
|
| Stock price: | C$0.35 at close Sept. 16
|
|
|
| Flow-through shares
|
| Issue: | Flow-through common shares
|
| Shares: | 1,422,000
|
| Price: | C$0.25
|
| Warrants: | No
|
|
|
| Units
|
| Issue: | Units of one non flow-through share and one half-share warrant
|
| Units: | 3,856,905
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.30
|
|
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