By Devika Patel
Knoxville, Tenn., Dec. 14 - Crescent Resources Corp. said it has amended the terms of a previously announced non-brokered private placement of units to raise C$1 million. The deal priced for C$3.5 million on Nov. 19.
The company now will sell 4 million units at C$0.25 apiece. It originally intended to sell 10 million units at C$0.35 per unit.
Each unit will consist of one share and one half-share warrant, with each whole two-year warrant exercisable at C$0.35. The warrants were to have a C$0.50 strike price for the first year and C$0.70 thereafter.
Proceeds will be used for exploration, drilling and general corporate purposes.
Based in Vancouver, B.C., Crescent is a mineral exploration company.
| Issuer: | Crescent Resources Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 4 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.35
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 19
|
| Amended: | Dec. 14
|
| Stock symbol: | TSX Venture: CRC
|
| Stock price: | C$0.345 at close Nov. 16
|
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