By Sheri Kasprzak
New York, Feb. 15 - Lara Exploration Ltd. said it has completed a private placement for C$2.5 million.
The company sold 5 million units of one share and one warrant. The warrants are exercisable at C$0.75 each for two years.
The expiry of the warrants will be accelerated to 20 days if the company's stock trades above C$1.05 for more than 20 consecutive trading days.
The offering was closed along with Lara's acquisition of Pan Brazilian Mineracao Ltda., a private gold, copper and nickel exploration company.
Based in Vancouver, B.C., Lara is a gold exploration company.
| Issuer: | Lara Exploration Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$2.5 million
|
| Units: | 5 million
|
| Price: | C$0.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
| Settlement date: | Feb. 15
|
| Stock symbol: | TSX Venture: LRA
|
| Stock price: | C$0.80 at close Feb. 15
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
