Non-brokered deal offers units with whole warrants at C$0.25 per unit
By Devika Patel
Knoxville, Tenn., Dec. 12 - Orocan Resource Corp. said it has arranged a C$1 million non-brokered private placement of units.
The company will sell 4 million units of one common share and one warrant at C$0.25 per unit.
Each warrant will be exercisable at C$0.40 for 18 months. The strike price is a 48.15% premium to C$0.27, the Dec. 9 closing share price.
Proceeds will be used for exploration.
Vancouver, B.C.-based Orocan Resource explores for graphite.
| Issuer: | Orocan Resource Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 4 million
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 12
|
| Stock symbol: | TSX Venture: OR
|
| Stock price: | C$0.26 at close Dec. 12
|
| Market capitalization: | C$3.86 million
|
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