Post by
the_watcher1 on Apr 18, 2011 11:24am
News Coming
Channel Resources Ltd. ("Channel" or the "Company") (TSX VENTURE:CHU) is pleased to announce that it has entered into an agreement with Wellington West Capital Markets Inc. (the "Underwriter") to sell 14,710,000 units (the "Units") at a price of
.34 per Unit to raise aggregate gross proceeds of up to $5,001,400 on a "bought deal", private placement basis (the "Offering"). Each Unit will consist of one common share of Channel and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share of Channel (a "Warrant Share") at a price of
.50 per Warrant Share for 24 months following the closing of the Offering.
Remember Wellington bought a ton at 34 cents so it is probably worth alot more than 24 cents, these prices are very cheap and new will be out this week, enjoy your week
Comment by
groovin123 on Apr 18, 2011 11:34am
What news would that be, a re-priced PP?.Would not be surprised to see our "Anonymous" seller keeping 'er pinned at $.25 to accomplish the feat, easy to capitalize on people's panic selling.... 2 weeks from now all will be forgotten in Burkino Faso and of course there will be some crisis somewhere else to hype.... yeesh....