By Devika Patel
Knoxville, Tenn., Aug. 11 - Terra Ventures Inc. said it will take in C$5.6 million from a private placement through D&D Securities Co.
The company will sell 7 million units of one share and one warrant at C$0.80 per unit. Each warrant will be exercisable at C$1.20 for two years.
Proceeds will be used for general corporate purposes, for continued exploration and development of the company's existing properties, and to finance any future property acquisitions that the company's board of directors deems appropriate.
Based in Vancouver, B.C., Terra Ventures is a junior exploration company focused on acquiring and developing quality uranium projects.
| Issuer: | Terra Ventures Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$5.6 million
|
| Units: | 7 million
|
| Price: | C$0.80
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.20
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| Pricing date: | Aug. 11
|
| Stock price: | TSX Venture: TAS
|
| Stock price: | C$0.81 at close Aug. 8
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