By Sheri Kasprzak
New York, Dec. 13 - CMQ Resources Inc. wrapped a private placement for C$6,000,390.
The company sold 13,334,200 units at C$0.45 each.
The units consist of one share and one half-share warrant. Each whole warrant is exercisable at C$0.55 for 18 months.
Proceeds will be used for exploration drilling in 2007 and for work on three focus areas within the company's Vasquir, Nev., property. The remainder will be used for debt repayment.
CMQ is a mineral exploration company based in Calgary, Alta.
| Issuer: | CMQ Resources Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$6,000,390
|
| Units: | 13,334,200
|
| Price: | C$0.45
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.55
|
| Settlement date: | Dec. 12
|
| Stock symbol: | TSX Venture: CMQ
|
| Stock price: | C$0.39 at close Dec. 12
|
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