By Sheri Kasprzak
Atlanta, June 2 - Cascadia International Resources Inc. said it plans to raise up to C$1 million and at least C$500,000 in a private placement.
The offering includes up to 4 million units and at least 2 million units at C$0.25 each.
The units are comprised of one flow-through share and one warrant. The warrants allow for an additional flow-through share at C$0.40 each through Dec. 15, 2006.
Directors of the company have agreed to buy up to 1 million units of the deal.
Based in Calgary, Alta., Cascadia is a mineral exploration company. The proceeds will be used for drilling and exploration expenses on its properties in Canada, in particular its Norton property in Ontario.
| Issuer: | Cascadia International Resources Inc.
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| Issue: | Units of one flow-through share and one warrant
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| Amount: | C$1 million (maximum); C$500,000 (minimum)
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| Units: | 4 million (maximum); 2 million (minimum)
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| Price: | C$0.25
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| Warrants: | One warrant per unit
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| Warrant expiration: | Dec. 15, 2006
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| Warrant strike price: | C$0.40
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| Pricing date: | June 2
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| Stock price: | C$0.21 at close June 2
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