By Laura Lutz
Des Moines, July 20 - Portal Resources Ltd. settled its previously announced private placement of units for C$5,126,550, down slightly from the C$5,129,800 deal size announced on July 6.
The company sold 7.887 million units of one share and one half-share warrant at C$0.65 per unit. Each whole warrant is exercisable at C$0.85 for one year.
The deal priced on June 6 as a C$4 million offering of 6,153,846 units. It was upsized to a C$4.55 million offering of 7 million units on Friday, and it was further increased to C$5,129,800 later in the day.
The placement was non-brokered.
Proceeds will be used for exploration and working capital.
Portal is a uranium, precious and base metal exploration company with headquarters in Vancouver, B.C.
| Issuer: | Portal Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$5,126,550
|
| Units: | 7.887 million
|
| Price: | C$0.65
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.85
|
| Agent: | Non-brokered
|
| Pricing date: | June 6
|
| Upsized: | July 6
|
| Settlement date: | July 20
|
| Stock symbol: | TSX Venture: PDO
|
| Stock price: | C$0.70 at close June 6
|
| Stock price: | C$0.75 at close July 6
|
| Stock price: | C$0.66 at close July 19
|
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