By Sheri Kasprzak
New York, July 5 - Brett Resources Inc. plans to raise up to C$4 million in a private placement.
The non-brokered offering includes up to 2,857,142 flow-through shares at C$0.70 each and up to 3,333,333 units at C$0.60 each.
The units consist of one share and one half-share warrant. Each whole warrant is exercisable at C$0.80 for two years.
The expiry of the warrants may be accelerated to 25 days if the stock trades above C$1.00 for more than 20 consecutive trading days.
Proceeds from the flow-through shares will be used for exploration on the company's Hammond Reef gold project in Ontario, and the proceeds from the units will be used for the advancement of the company's prospects in Alaska, for the acquisition of new assets and for working capital.
Based in Vancouver, B.C., Brett is a mineral exploration, acquisition and development company.
| Issuer: | Brett Resources Inc.
|
| Issue: | Flow-through shares and units of one share and one half-share warrant
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| Amount: | C$4 million (maximum)
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| Placement agent: | Non-brokered
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| Pricing date: | July 5
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| Stock symbol: | TSX Venture: BBR
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| Stock price: | C$0.58 at close July 4
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| Flow-through shares
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| Shares: | 2,857,142
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| Price: | C$0.70
|
| Warrants: | No
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| Units
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| Units: | 3,333,333
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| Price: | C$0.60
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| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
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| Warrant strike price: | C$0.80
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