By Sheri Kasprzak
Atlanta, Feb. 22 - Gallery Resources Ltd. said it will hit the private placement market with a C$1.75 million offering of units.
The company plans to sell up to 25 million units at C$0.07 each. The units consist of one flow-through share and one warrant.
The warrants allow for an additional share at C$0.10 each for one year.
Based in Vancouver, B.C., Gallery is a gold mining and exploration company. It plans to use the proceeds for exploration on its Shabogamo project and for working capital.
| Issuer: | Gallery Resources Ltd.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1.75 million (maximum)
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| Units: | 25 million (maximum)
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| Price: | C$0.07
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| Warrants: | One warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.10
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| Pricing date: | Feb. 22
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| Stock price: | C$0.065 at close Feb. 22
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