New York, May 25 - Canaco Resources Inc. said it has reduced the pricing on its planned private placement of up to C$2 million of units.
The company now plans to sell up to 5 million units at C$0.40 each instead of up to 4 million units at C$0.50.
Canaco also cut the exercise price of the warrants to C$0.50 from C$0.75. Each unit includes one share and one half-share warrant.
Leede Financial Markets Inc. is the placement agent.
The deal was originally priced on March 21.
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.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$2 million (maximum)
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| Units: | 5 million (maximum)
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| Price: | C$0.40
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.50
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| Placement agent: | Leede Financial Markets Inc.
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| Pricing date: | March 21, revised May 24
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| Stock price: | C$0.54 at close March 21, C$0.35 at close May 24
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