By Devika Patel
Knoxville, Tenn., Feb. 12 - Explor Resources Inc. said it will conduct a C$1 million non-brokered private placement of units.
The company will sell 5,263,157 units at C$0.19 each. It plans to sell a combination of flow-through units and non flow-through units at that price.
Each flow-through unit consists of one flow-through share and one half-share warrant. Each non flow-through unit consists of one common share and one warrant.
Each whole warrant from either series of units will be exercisable for one non flow-through share at C$0.24 for two years.
Explor is a resource exploration company based in Rouyn-Noranda, Quebec.
Issuer: | Explor Resources Inc.
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Issue: | Units of one flow-through share and one half-share warrant; units of one common share and one warrant
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Amount: | C$1 million
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Units: | 5,263,157
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Price: | C$0.19
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Warrant expiration: | Two years
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Warrant strike price: | C$0.24
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Agent: | Non-brokered
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Pricing date: | Feb. 12
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Stock symbol: | TSX Venture: EXS
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Stock price: | C$0.33 at close Feb. 12
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Flow-through units
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Warrants: | One half-share warrant per unit
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Non flow-through units
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Warrants: | One per unit
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