By Devika Patel
Knoxville, Tenn., Aug. 27 - Halo Resources Ltd. announced that it plans to raise up to C$1.31 million in a non-brokered private placement of units and stock.
The company will sell up to 8.4 million flow-through shares at C$0.12 per share for C$1 million and up to 3 million units at C$0.10 apiece for C$300,000.
Each unit will consist of one common share and one half-share warrant, with each whole warrant exercisable at C$0.15 for two years.
Proceeds will be used for the exploration of the company's mineral properties in Canada and for general corporate purposes.
Halo is a resource exploration company based in Toronto.
| Issuer: | Halo Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant; flow-through shares
|
| Amount: | C$1,308,000
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 26
|
| Stock symbol: | TSX Venture: HLO
|
| Stock price: | C$0.14 at close Aug. 27
|
|
|
| Units
|
| Amount: | C$300,000
|
| Units: | 3 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
|
|
| Flow-through shares
|
| Amount: | C$1,008,000
|
| Shares: | 8.4 million
|
| Price: | C$0.12
|
| Warrants: | No
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
