By Laura Lutz
Chicago, Oct. 20 - Oromonte Resources Inc. arranged a private placement with Canaccord Capital Corp. for C$3 million.
Canaccord agreed to buy 5 million units for C$0.60 apiece. Each unit will consist of one half-share warrant, with each warrant exercisable at C$0.75 for two years.
Proceeds of the non-brokered deal will be used for acquisitions and working capital.
Oromonte is a gold exploration and development company based in Calgary, Alta.
| Issuer: | Oromonte Resources Inc.
|
| Issue: | Units of one half-share warrant
|
| Amount: | C$3 million
|
| Units: | 5 million
|
| Price: | C$0.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
| Investor: | Canaccord Capital Corp.
|
| Agent: | Non-brokered
|
| Announcement date: | Oct. 20
|
| Stock symbol: | TSX Venture: ORR
|
| Stock price: | C$0.82 at close Oct. 20
|
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