GREY:GMFLF - Post by User
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chag25on Feb 12, 2010 4:11pm
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News
NewsGlobal Minerals completes $1.04-million first tranche
2010-02-12 14:22 ET - News Release
Mr. George Heard reports
GLOBAL MINERALS CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT
Global Minerals Ltd. has closed the first tranche of its private placement announced in Stockwatch on Feb. 2, 2010. It raised $1,042,780 through the issuance of 7,448,428 units at a price of 14 cents per unit. Each unit consists of one common share in the capital of the company and one-half of one share purchase warrant. Each whole warrant is exercisable to purchase one additional common share at a price of 24 cents for a period of two years expiring Feb. 10, 2012. Global Minerals paid finders' fees of $56,750 and issued 405,360 finders' warrants, exercisable at a price of 14 cents for a period of one year expiring Feb. 10, 2011. Proceeds of the private placement will be used for general working capital and mine property development.