By Sheri Kasprzak
New York, April 6 - Logan Resources Ltd. said it has increased the size of its previously announced non-brokered private placement to C$500,000 from C$250,000.
The company will now sell up to 1 million units of one flow-through share and one half-share warrant.
The whole warrants are exercisable at C$0.70 each for 18 months.
The offering is connected to a C$3.25 million brokered offering.
Both deals priced on March 28. The company still plans to sell 5 million flow-through units at C$0.55 each and 1 million non flow-through units at C$0.50 each.
The non-brokered deal was priced as a C$250,000 offering of 500,000 non flow-through units.
Proceeds from the flow-through units will be used for exploration on the company's properties in the Yukon and British Columbia. The rest will be used for general exploration and for working capital.
Logan, based in Vancouver, B.C., is a gold, copper and uranium exploration company.
| Issuer: | Logan Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$500,000
|
| Units: | 1 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.70
|
| Placement agent: | Non-brokered
|
| Pricing date: | March 28
|
| Upsized: | April 6
|
| Stock symbol: | TSX Venture: LGR
|
| Stock price: | C$0.60 at close March 28
|
| Stock price: | C$0.51 at close April 6
|
|
|
© 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.
