Deal funds exploration and development, working capital requirements
By Devika Patel
Knoxville, Tenn., April 19 - Can-Cal Resources Ltd. settled its $186,499 private placement of units on April 17, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 3,108,314 units of one common share and one warrant at $0.06 per unit.
Each warrant will be exercisable at $0.08, a 60% premium to the April 16 closing share price of $0.05, until April 4, 2014.
Proceeds will be used for exploration and development and project work-out commissioning of Can-Cal's current properties, to update and complete all corporate governance, audit and management financial statements and Canadian and U.S. securities commission's regulatory requirements and for strategic working capital requirements.
Can-Cal is a precious metals exploration company based in Las Vegas.
| Issuer: | Can-Cal Resources Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $186,499
|
| Units: | 3,108,314
|
| Price: | $0.06
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | April 4, 2014
|
| Warrant strike price: | $0.08
|
| Agent: | Non-brokered
|
| Settlement date: | April 17
|
| Stock symbol: | OTCBB: CCRE
|
| Stock price: | $0.05 at close April 16
|
| Market capitalization: | $2.18 million
|
© 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.
