By Sheri Kasprzak
New York, May 26 - Astron Resources Corp. priced a C$4 million private placement.
The offering includes up to 4 million units of one share and one warrant. Each warrant is exercisable at C$1.50 for two years.
Pacific International Securities Inc. is the placement agent and has a greenshoe for up to 1 million additional units.
Proceeds will be used for exploration, acquisition and development on the company's Pumpkin Hollow copper property in Nevada.
Based in Vancouver, B.C., Astron is a mineral exploration company.
| Issuer: | Astron Resources Corp.
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| Issue: | Units of one share and one warrant
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| Amount: | C$4 million
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| Units: | 4 million
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| Greenshoe: | For 1 million units
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| Price: | C$1.00
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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$1.50
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| Placement agent: | Pacific International Securities Inc.
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| Pricing date: | May 25
|
| Stock symbol: | TSX Venture: ARC
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| Stock price: | C$0.66 at close May 25
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