Central Resources Corp: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Central Resources Corp Closes $300,000 Financing
Central Resources Corp announced that it has closed the non-brokered private placement previously announced on December 7, 2012. A total of 12,000,000 units were issued at a price of $0.025 per unit for gross proceeds of $300,000. Each unit consists of one common share of the company and one warrant. Each warrant entitles the holder to purchase one additional common share of the Company at a price of $0.05 during the first year following the closing date and $0.10 during the second year following the closing date. The Company may accelerate the expiry of the warrants (following the expiry of the four month hold period) if the twenty-day volume-weighted average trading price of the shares on the TSX Venture Exchange exceeds $0.10 in the first year following the closing date or $0.20 in the second year following the closing date, in which event the warrants will expire 30 calendar days after the date that the Company provides notice to the holders. The Company intends to use the proceeds raised from the private placement to fund expenditures made in connection with completion of the exploration program of Company's Tam property and general working capital needs.
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