By Sheri Kasprzak
New York, Feb. 3 - Archon Minerals Ltd. said it has completed a non-brokered private placement for C$2 million.
The company sold 800,000 units at C$2.50 each to Stewart Blusson, an insider of the company.
The units consist of one share and one warrant. The warrants are exercisable at C$2.90 each for two years.
Based in Calgary, Alta., Archon is a mineral exploration company.
| Issuer: | Archon Minerals Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$2 million
|
| Units: | 800,000
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| Price: | C$2.50
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$2.90
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| Investor: | Stewart Blusson
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| Placement agent: | Non-brokered
|
| Settlement date: | Feb. 3
|
| Stock symbol: | TSX Venture: ACS
|
| Stock price: | C$3.00 at close Feb. 3
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