Central Resources Corp: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
Central Resources Corp Announces $200,000 Financing
Central Resources Corp announced that it has negotiated a non-brokered private placement of $200,000 through the sale of 4,000,000 units at a price of $0.05 per unit. Each unit will consist of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of the Company for a period of 12 months from closing at an exercise price of $0.10. The Company may accelerate the expiry of the warrants (following the expiry of the 4 month hold period) if the twenty-day volume-weighted average trading price of the shares on the TSX Venture Exchange (or such other exchange on which the shares may be listed) exceeds $0.20 in which event the warrant will expire 30 calendar days after the date that the Company provides notice to the holders. The proposed private placement is subject to TSX Venture Exchange acceptance. All securities issued under the private placement will be subject to a four month hold period from the closing date. The proceeds from the private placement will be used for general working capital and to fund exploration of the Company's mineral projects.
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