By Laura Lutz
Des Moines, Dec. 24 - High Ridge Resources Inc. priced a C$3 million non-brokered private placement of units and cancelled its C$1.65 million brokered private placement, according to a news release.
The new placement consists of up to 10 million non flow-through units of one share and one half-share warrant at C$0.30 per unit. Each warrant will be exercisable at C$0.45 for 18 months.
Proceeds will be used for working capital and for exploration.
In the cancelled placement, High Ridge had planned to sell non flow-through and flow-through units through Canaccord Capital Corp. That deal was announced on Dec. 11.
High Ridge is a mineral exploration company based in Vancouver, B.C.
| Issuer: | High Ridge Resources Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3 million
|
| Units: | 10 million
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.45
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 24
|
| Stock symbol: | TSX Venture: HRR
|
| Stock price: | C$0.28 at close Dec. 24
|
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