By Sheri Kasprzak
Atlanta, June 23 - International Barytex Resources Ltd. said it plans to raise up to C$4,601,000 in a non-brokered private placement.
The deal includes up to 4.3 million units at C$1.07 each.
The units consist of one share and one warrant. The warrants are exercisable at C$1.40 each for two years. The expiry of the warrants may be accelerated to 30 days if the company's stock trades above C$2.00 for 10 consecutive trading days.
Based in Vancouver, B.C., International Barytex is a mineral exploration company. The proceeds will be used for the exploration and the first year's payment on the Shituru copper-cobalt deposit in the Democratic Republic of the Congo.
| Issuer: | International Barytex Resources Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$4,601,000 (maximum)
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| Units: | 4.3 million (maximum)
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| Price: | C$1.07
|
| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.40
|
| Pricing date: | June 22
|
| Stock price: | C$1.05 at close June 22
|
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