By Sheri Kasprzak
Atlanta, Dec. 3 - Cash Minerals Ltd. said Wednesday it has raised C$1 million in a private placement.
An investment group led by Forbes & Manhattan Inc. will receive 6,060,606 units at C$0.165 each.
The units are comprised of one share and one warrant. The warrants allow for an additional share at C$0.22 for two years.
The offering is scheduled to close by Dec. 15.
Based in Vancouver, B.C., Cash Minerals is a mineral exploration company focused on coal and coal-bed methane exploration in the Yukon. It plans to use the proceeds from the financing for exploration and general corporate purposes.
| Issuer: | Cash Minerals Ltd.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1 million
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| Shares: | 6,060,606 units
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| Price: | C$0.165
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.22
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| Investors: | Forbes & Manhattan Inc.
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| Announcement date: | Dec. 1
|
| Settlement date: | Dec. 15
|
| Stock price: | C$0.33 at close Dec. 1
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