By Sheri Kasprzak
New York, June 21 - Butler Developments Corp. said it intends to raise C$1,125,000 in a private placement as part of its acquisition of Minera Codrington Ltda.
The placement includes up to 15 million units at C$0.075 each.
The units are comprised of one share and one warrant with each warrant exercisable at C$0.10 for two years.
The offering is not brokered.
Proceeds will be used to settle the acquisition and to begin initial work on the Lomas Bayas project. The remainder will be used for general corporate purposes.
Based in Vancouver, B.C., Butler Developments acquires and develops mineral properties.
| Issuer: | Butler Developments Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1,125,000
|
| Units: | 15 million
|
| Price: | C$0.075
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Placement agent: | Non-brokered
|
| Pricing date: | June 20
|
| Stock symbol: | TSX Venture: BTD
|
| Stock price: | C$0.12 at close June 20
|
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