Proceeds will fund mining at black diamond silver project in Arizona
By Susanna Moon
Chicago, Feb. 10 - Trueclaim Exploration Inc. said it sold a downsized C$1,230,600 non-brokered private placement of units. The company planned to sell C$1.36 million of units when the deal was announced on Jan. 26.
The company sold 15,382,500 units of one common share and one half-share warrant at C$0.08 per unit. Each whole two-year warrant will be exercisable at C$0.10. The strike price is an 11.11% premium to the Jan. 25 closing share price of C$0.09.
Trueclaim had planned to sell 17 million units.
Proceeds will be used to finance exploration of the company's black diamond silver project in Arizona, which the company has under option, its Scadding gold project northeast of Sudbury, Ontario and for general working capital purposes.
Based in St. Thomas, Ont., Trueclaim is a precious and base metals mining company.
Issuer: | Trueclaim Exploration Inc.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$1,230,600
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Units: | 15,382,500
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Price: | C$0.08
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.10
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Agent: | Non-brokered
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Pricing date: | Jan. 26
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Stock symbol: | TSX Venture: TRM
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Stock price: | C$0.09 at close Jan. 26
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Market capitalization: | C$7.08 million
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