By Jennifer Chiou
New York, Oct. 17 - Pitchstone Exploration Ltd. said it closed the final $300,000 tranche of its C$1.5 million private placement of stock.
The company sold 2.5 million flow-through common shares at C$0.60 apiece.
The final tranche involved a finder's fee of 5% and the shares will be subject to a hold period until Feb. 17.
Proceeds will be used for exploration on Pitchstone's Canadian property interests.
After the placement, the company said it has 33.4 million shares outstanding.
Pitchstone is a uranium exploration company based in Vancouver, B.C.
| Issuer: | Pitchstone Exploration Ltd.
|
| Issue: | Flow-through common shares
|
| Amount: | C$1,500,600
|
| Shares: | 2,501,000
|
| Price: | C$0.60
|
| Warrants: | No
|
| Pricing date: | Sept. 29
|
| Stock symbol: | TSX Venture: PXP
|
| Stock price: | C$0.42 at close Sept. 26
|
| C$0.24 at close Oct. 16
|
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