Non-brokered offering will finance company's exploration activities
By Devika Patel
Knoxville, Tenn., June 21 - Colorado Resources Ltd. said it will conduct a C$4 million non-brokered private placement of stock.
The company will sell 5 million flow-through common shares at C$0.80 apiece. The price per share is an 8.11% premium to C$0.74, the June 20 closing share price.
Proceeds will be used for exploration activities on the company's North ROK and other Canadian properties.
The Kelowna, B.C., company explores for gold and silver.
| Issuer: | Colorado Resources Ltd.
|
| Issue: | Flow-through common shares
|
| Amount: | C$4 million
|
| Shares: | 5 million
|
| Price: | C$0.80
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | June 21
|
| Stock symbol: | TSX Venture: CXO
|
| Stock price: | C$0.74 at close June 20
|
| Market capitalization: | C$29.76 million
|
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