By Laura Lutz
Des Moines, Sept. 18 - Cancor Mines Inc. completed a private placement of shares for C$1.2 million.
The company issued 3,428,575 shares, including 2,742,860 flow-through shares, at C$0.35 each.
Proceeds from the flow-through shares will fund drilling, a feasibility study and an environmental study on the Explo-Zinc deposit of the company's Kistabiche property in Quebec. The rest of the proceeds will be used for working capital.
Cancor Mines is a Montreal-based mining company focused on gold and base metals.
| Issuer: | Cancor Mines
|
| Issue: | Flow-through and non flow-through shares
|
| Amount: | C$1.2 million
|
| Settlement date: | Sept. 18
|
| Stock symbol: | Toronto: KCR
|
| Stock price: | C$0.30 at close on Sept. 15
|
|
|
| Flow-through shares
|
| Shares: | 2,742,860
|
| Price: | C$0.35
|
| Warrants: | No
|
|
|
| Non flow-through shares
|
| Shares: | 685,715
|
| Price: | C$0.35
|
| Warrants: | No
|
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