E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 3/22/2005 in the Prospect News PIPE Daily.

New Issue: Canaco arranges private placement of units for up to C$2 million

By Sheri Kasprzak

Atlanta, March 22 - Canaco Resources Inc. said it will head to the private placement market with an offering for up to C$2 million.

The company plans to sell up to 4 million units at C$0.50 each.

The units include one share and one half-share warrant. The whole warrants provide for an additional share at C$0.75 each for one year.

Leede Financial Markets Inc. is the placement agent.

Vancouver, B.C.-based Canaco is a gold exploration company. It plans to use the proceeds from the deal for the operations, exploration, acquisition and development of gold prospects in North and South America.

Issuer:Canaco Resources Inc.
Issue:Units of one share and one half-share warrant
Amount:C$2 million (maximum)
Units:4 million (maximum)
Price:C$0.50
Warrants:One half-share warrant per unit
Warrant expiration:One year
Warrant strike price:C$0.75
Placement agent:Leede Financial Markets Inc.
Pricing date:March 21
Stock price:C$0.54 at close March 21

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.