New Issue: Cue Resources seals C$1.36 million tranche of units private placement

By Devika Patel

Knoxville, Tenn., Nov. 17 - Cue Resources Ltd. said it settled the oversubscribed second tranche of a C$2.37 million non-brokered private placement of units, raising C$1.36 million. The deal priced for C$2.1 million on May 7 and was amended to C$2 million on June 23. The company completed the first tranche on July 13 for C$1.01 million.

Cue sold a total of 23,713,125 units of one common share and one warrant at C$0.10 per unit. It sold 10,102,000 units in the first tranche and 13,611,125 units in this one. Each warrant will be exercisable at C$0.15 for two years.

Proceeds will be used for general working capital purposes.

Vancouver, B.C.-based Cue Resources is a resource exploration company.

Issuer:	Cue Resources Ltd.
Issue:	Units of one common share and one warrant
Amount:	C$2,371,313
Units:	23,713,125
Price:	C$0.10
Warrants:	One warrant per unit
Warrant expiration:	Two years
Warrant strike price:	C$0.15
Agent:	Non-brokered
Pricing date:	May 7
Amended:	June 23
Settlement date:	July 13 (for C$1,010,200), Nov. 17 (for C$1,361,113)
Stock symbol:	TSX Venture: CUE
Stock price:	C$0.18 at close May 7
Market capitalization:	C$4.65 million

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