PP at 5 centsIt will probably trade just above the PP price , 5 cents, or people sell the stock on the open market and buy the PP for 5 cents and also get a 10 cents warrant.
This was the reason of the high volume today. Until PP is closed stock will not go anywhere.
Somebody knew about that 5 cents PP selling it down to 6, 7 cents to buy the PP, cash in on the difference and get a free warrant. Not bad.
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Noka Resources arranges $700,000 private placement
2014-05-13 16:55 ET - News Release
Mr. Nav Dhaliwal reports
NOKA RESOURCES ANNOUNCES NON-BROKERED PRIVATE PLACEMENT FINANCING
Noka Resources Inc. has arranged a non-brokered private placement of up to 14 million units at a price of five cents per unit to raise gross proceeds of up to $700,000.
Each unit will consist of one common share of the company and one transferrable share purchase warrant. Each warrant shall be exercisable to acquire one additional common share of the company for a period of two years at a price of 10 cents per warrant share. The company may pay a finder's fee on a portion or all of the private placement.
The company intends to use the proceeds from the private placement to conduct further exploration on its Athabasca basin uranium properties and for general working capital.
The private placement is subject to acceptance by the TSX Venture Exchange. All the securities issued under the private placement are subject to resale restrictions under applicable securities legislation.
We seek Safe Harbor.
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