By Laura Lutz
Des Moines, June 6 - Outlook Resources Inc. plans to conduct a private placement of units for up to C$1 million.
The company intends to sell up to 16,666,667 units of one share and one warrant at C$0.06 per unit. Each warrant will be exercisable at C$0.10 for two years.
Northern Securities Inc. will act as lead agent.
The company also announced that a previously announced private placement of units has been reduced to a maximum size of C$200,000 from C$600,000.
The units in the smaller placement will be sold on the same terms as those in the larger deal.
The smaller placement, which will be non-brokered, priced on June 4.
Proceeds from both deals will be used to upgrade the company's aquaculture operations in Manitoba as well as for working capital.
Based in Selkirk, Manitoba, Outlook focuses on renewable resources and environmental projects.
| Issuer: | Outlook Resources Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1 million
|
| Units: | 16,666,667
|
| Price: | C$0.06
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Agent: | Northern Securities Inc. (lead)
|
| Pricing date: | June 6
|
| Stock symbol: | TSX Venture: OLR
|
| Stock price: | C$0.08 at close June 6
|
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