By Sheri Kasprzak
Atlanta, Nov. 5 - Minterra Resource Corp. said Friday it will proceed with a C$2 million private placement.
The offering consists of 8 million units of one share and one half-share purchase warrant at C$0.25 per unit.
The full warrants allow for the purchase of an additional share at C$0.30 for two years.
Sandstone Ventures Corp. received an 8% finder's fee. The company is arm's length to Minterra.
Minterra is a Vancouver, B.C.-based exploration company. It plans to use the proceeds from the financing for the acquisition and initial exploration costs of 11 projects in the Carlin and Cortez trends of Nevada.
| Issuer: | Minterra Resource Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$2 million
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| Shares: | 8 million units
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| Price: | C$0.25
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.30
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| Announcement date: | Nov. 5
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| Stock price: | C$0.31 at close Nov. 5
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