By Laura Lutz
Des Moines, June 27 - March Resources Corp. plans to complete a private placement of units for up to C$18 million.
The company intends to sell up to 30 million units of one share and one warrant at C$0.60 per unit. Each whole warrant will be exercisable at C$0.90 for one year.
The placement will be non-brokered.
Proceeds will be used for drilling and working capital.
March is a resource exploration company based in Calgary, Alta.
Issuer: | March Resources Corp.
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Issue: | Units of one share and one warrant
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Amount: | C$18 million
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Units: | 30 million
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Price: | C$0.60
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Warrants: | One per unit
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Warrant expiration: | One year
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Warrant strike price: | C$0.90
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Agent: | Non-brokered
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Pricing date: | June 27
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Stock symbol: | TSX Venture: MCF
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Stock price: | C$0.69 at close June 26
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