By Devika Patel
Knoxville, Tenn., Aug. 5 - Cash Minerals Ltd. said it will raise C$1.5 million in a non-brokered private placement of units.
The company plans to sell 30 million units at C$0.05 per unit. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.10 for two years.
Proceeds will be used for general corporate purposes.
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 half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 30 million
|
| Price: | C$0.05
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 5
|
| Stock symbol: | TSX Venture: CHX
|
| Stock price: | C$0.04 at close Aug. 5
|
| Market capitalization: | C$4.82 million
|
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