By Sheri Kasprzak
New York, Nov. 18 - Berkley Resources Inc. said it plans to raise up to C$4.05 million in a private placement.
The non-brokered deal includes up to 4.5 million flow-through shares at C$0.90 each.
Berkley said it also plans to raise C$450,000 in a separate non-brokered offering of 500,000 units at the same price.
Those units include one non flow-through share and one half-share warrant. The whole warrants are exercisable at C$1.25 each for two years.
Proceeds will be used for Canadian exploration and development work.
Based in Vancouver, B.C., Berkley is an oil and natural gas exploration company.
| Issuer: | Berkley Resources Inc.
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| Issue: | Flow-through shares
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| Amount: | C$4.05 million
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| Shares: | 4.5 million
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| Price: | C$0.90
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| Warrants: | No
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| Placement agent: | Non-brokered
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| Pricing date: | Nov. 18
|
| Stock price: | C$0.75 at close Nov. 18
|
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