Cameo Resources arranges $2-million private placement 2017-11-30 15:39 ET - News Release
Mr. Akash Patel reports
CAMEO RESOURCES CORP. ANNOUNCES FINANCING
Cameo Resources Corp. intends to conduct a non-brokered private placement to raise gross proceeds of up to $2-million by way of the issuance of up to 2.5 million common share units at a price of 80 cents per unit.
Each unit under the financing will consist of one common share and one-half of a common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the company at a price of $1.50 per common share for a two-year period from the closing date.
Net proceeds of the financing will be used to advance the company's exploration projects in Canada and for general working capital purposes.
Shares issued pursuant to the financing will be subject to a four-month hold period pursuant to applicable securities laws of Canada.
The corporation may pay cash finders' fees on subscriptions under the financing equal to 7 per cent and issue finder warrants equal to 7 per cent on subscriptions under the financing exercisable at a price of $1.50 for a two-year period following closing.
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