RE: More news How can they do a 2 cent PP, I thought it had to be 5 cents or higher..
The company also reports that it has arranged a non-brokered private placement of up to 10 million units at a price of two cents per unit for total proceeds of up to $200,000, subject to the approval of the TSX Venture Exchange. Up to 10 million units will be issued as non-flow-through units, consisting of one common share and one-half of one non-transferable warrant. Each whole warrant will entitle the holder to purchase one additional common share of the company at a price of five cents per share in the first year and 10 cents per share in the second and final year from the date of closing.
The proceeds of the private placement will be used to maintain and preserve the company's assets and operations. Finders' fees, as allowed pursuant to the policies of the TSX Venture Exchange, may be payable in connection with the offering.
SUCYN