By Devika Patel
Knoxville, Tenn., June 17 - Cash Minerals Ltd. said it will raise C$2 million in a non-brokered private placement of units.
The company plans to sell 4 million units at C$0.25 per unit for C$1 million. Each unit consists of one common share and one warrant.
Cash Minerals also will sell 4 million flow-through units at C$0.25 per unit for C$1 million. Each flow-through unit consists of one flow-through common share and one warrant.
Each warrant is exercisable at C$0.40 for two years.
Settlement is expected July 4.
Proceeds will be used to update the previous study completed on Division Mountain.
Cash Minerals, a resource company based in Vancouver, B.C., is focused on uranium and coal prospects in the Yukon and a project to convert coal into clean-burning diesel fuel in China.
| Issuer: | Cash Minerals Ltd.
|
| Issue: | Units of one common share and one warrant, flow-through units of one flow-through common share and one warrant
|
| Amount: | C$2 million
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | June 17
|
| Settlement date: | July 4
|
| Stock symbol: | TSX Venture: CHX
|
| Stock price: | C$0.275 at close June 16
|
|
|
| Units
|
| Amount: | C$1 million
|
| Units: | 4 million
|
|
|
| Flow-through units
|
| Amount: | C$1 million
|
| Units: | 4 million
|
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