By Sheri Kasprzak
Atlanta, Feb. 24 - Hornby Bay Exploration Ltd. said it plans to raise up to C$4,935,000 in a private placement.
The offering includes up to 4.7 million flow-through common shares at C$1.05 each.
Desjardins Securities Inc. is the placement agent.
Based in Toronto, Hornby Bay is a mineral exploration program. It plans to use the proceeds for its April-September 2005 uranium exploration program.
| Issuer: | Hornby Bay Exploration Ltd.
|
| Issue: | Flow-through common shares
|
| Amount: | C$4,935,000 (maximum)
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| Shares: | 4.7 million (maximum)
|
| Price: | C$1.05
|
| Warrants: | No
|
| Placement agent: | Desjardins Securities Inc.
|
| Pricing date: | Feb. 24
|
| Stock price: | C$0.93 at close Feb. 24
|
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