By Devika Patel
Knoxville, Tenn., July 16 - Kria Resources Ltd. said it plans a C$1.5 million private placement of units.
The company will sell 15 million units at C$0.10 apiece to Cardero Resource Corp. Each unit consists of one common share and one warrant. Each warrant is exercisable at C$0.20 for two years.
The company plans to use the proceeds for property payments on its Halfmile Lake and Stratmat projects, to continue development of its key projects and for general working capital purposes.
Based in Toronto, Kria explores for minerals.
| Issuer: | Kria Resources Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.5 million
|
| Units: | 15 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Investor: | Cardero Resource Corp.
|
| Pricing date: | July 16
|
| Stock symbol: | TSX Venture: KIA
|
| Stock price: | C$0.11 at close July 15
|
| Market capitalization: | C$8.01 million
|
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