By Laura Lutz
Des Moines, Nov. 30 - Stroud Resources Ltd. intends to raise up to C$2 million from a non-brokered private placement of units.
The company plans to sell up to 19,047,619 units of one share and one half-share non-transferable warrant at C$0.105 per unit. Each whole warrant is exercisable at C$0.15 for two years.
Proceeds will be used for drilling and general corporate purposes.
Stroud is a resource exploration company based in Toronto.
| Issuer: | Stroud Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 19,047,619
|
| Price: | C$0.105
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 30
|
| Stock symbol: | TSX Venture: SDR
|
| Stock price: | C$0.12 at close Nov. 30
|
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