By Devika Patel
Knoxville, Tenn., July 28 - La Quinta Resources Corp. said it has increased a non-brokered private placement of units to C$1.2 million from C$900,000. The deal priced July 7.
The company will sell the units at C$0.25 each. When the deal priced, the price per unit was C$0.30. The units consist of one share and one warrant with each two-year warrant exercisable at C$0.40 for the first year and at C$0.60 thereafter.
Proceeds will be used for exploration and general working capital.
La Quinta is a precious metals company based in Vancouver, B.C.
| Issuer: | La Quinta Resources Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1.2 million
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40 in the first year, C$0.60 thereafter
|
| Agent: | Non-brokered
|
| Pricing date: | July 7
|
| Upsized: | July 28
|
| Stock symbol: | TSX Venture: LAQ
|
| Stock price: | C$0.29 at close July 7
|
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