And for the others...NEWS PP closed Iciena Ventures closes $3.5-million private placement
2007-01-22 18:34 ET - News Release
Mr. Harry Lappa reports
CLOSING OF PRIVATE PLACEMENT
Iciena Ventures Inc., further to its news in Stockwatch of Sept. 27, 2006, and Dec. 22, 2006, has now closed a private placement of 35 million units at a price of 10 cents per unit, for gross proceeds of $3.5-million. Each unit consists of one common share of the company and one-half of one share purchase warrant. Each whole warrant entitles the holder thereof to purchase one additional share at 15 cents per share for a two-year period, expiring Jan. 19, 2009. The company has paid a total of $175,000 in cash as finders' fees.
The company is entitled to accelerate the expiry date of the warrants forming part of the units to the date that is 30 days following the date a news release is issued by the company announcing the accelerated expiry date in the event the shares close at a price greater than 20 cents for 30 consecutive trading days at any time after the hold period has expired.
All shares issued pursuant to this private placement, together with any shares issuable on the exercise of the warrants, have a hold period expiring May 20, 2007. The proceeds of the financing will be used for exploration on the joint venture property operated by Dr. Chuck Fipke, as well as on the Matto Grosso area, and also for general working capital.