Complete newsCandorado arranges $750,000 private placement
2010-12-02 17:05 ET - News Release
Mr. Kirk Reed reportsCANDORADO ANNOUNCES A NON-BROKERED FLOW-THROUGH PRIVATE PLACEMENT FOR $750,000
Candorado Operating Co. Ltd. has arranged a non-brokered private placement of 7.5 million flow-through units at a price of 10 cents per FT unit for total proceeds of $750,000. Each FT unit will consist of one flow-through common share and one share purchase warrant entitling the investor to purchase one non-flow-through common share for a period of 24 months at a price of 15 cents per share.
The funds raised by way of the flow-through financing will be used for exploration of the company's La Motte lithium properties in Quebec and continuing development of the B.C. Quesnel Trough projects.
The private placement is subject to TSX Venture Exchange approval, and, in accordance with the securities legislation currently in effect, all securities will be subject to a hold period of four months and one day from the date of issuance and closing.
We seek Safe Harbor.