Key Developments: Challenger Deep Resources Corp (CDE.V)

CDE.V on TSX Venture Exchange

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11 Apr 2014
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Latest Key Developments (Source: Significant Developments)

Challenger Deep Resources Corp signs LOI for the sale of Barito Coal Project
Wednesday, 2 Apr 2014 07:30am EDT 

Challenger Deep Resources Corp:Entered into a binding Letter of Intent (LOI) for the sale of its Barito coal project in Central Kalimantan, Indonesia.A private Australian company, will purchase all of the outstanding shares of PT Bestindo Energy, a wholly-owned subsidiary of Challenger which holds all of the Corporations rights to the Barito project.Purchase price under the LOI is $2 mln.  Full Article

Challenger Deep Resources Corp Announces Closing Of Private Placement
Wednesday, 24 Apr 2013 07:49pm EDT 

Challenger Deep Resources Corp announced that further to the previous release dated March 15, 2013, it has now closed a non-brokered private placement consisting of 9,316,667 units (each a Unit) of the Company, at a subscription price of $0.15 per unit for gross proceeds of $1,397,500. Each unit consists of one common share and one common share purchase warrant. Each Warrant entitles the holder to purchase one additional common share of Challenger at an exercise price of CAD0.25 for a period of five years from the date of issuance of the Units. If, at any time after the expiry of the four month hold period, the closing price of the common shares on the TSX Venture Exchange is at least $0.50 for a period of 30 consecutive trading days, the Corporation may, at option, accelerate the expiry date of the warrants by issuing a press release and giving written notice thereof to all holders of warrants, and, in such case, the warrants will expire on the date which is the earlier of the 30th day after the date on which the press release is disseminated by the Corporation; and the original expiry date. The net proceeds from the Private Placement will be used for development of Challenger's Barito coal project in Central Kalimantan, Indonesia and for general corporate purposes.  Full Article

Challenger Deep Resources Corp Announces Private Placement
Friday, 15 Mar 2013 05:00pm EDT 

Challenger Deep Resources Corp announced a private placement of up to $1,500,000 (the Private Placement). Pursuant to the Private Placement, which is subject to acceptance by the TSX Venture Exchange, Challenger intends to issue, pursuant to applicable exemptions from registration and prospectus requirements of Canadian and United States securities laws, up to 10,000,000 Common Share Units (the Units) at a price of CAD $0.15 per Unit. Each Unit is comprised of one Common Share and one Common Share Purchase Warrant (each a Warrant). Each Warrant entitles the holder to purchase one additional Common Share of Challenger at an exercise price of CAD $0.25 for a period of five years from the date of issuance of the Units. If, at any time after the expiry of the 4 month hold period, the closing price of the common shares on the TSX Venture Exchange is at least $0.50 for a period of 30 consecutive trading days, the Corporation may, at its option, accelerate the expiry date of the warrants by issuing a press release and giving written notice thereof to all holders of warrants, and, in such case, the warrants will expire on the date which is the earlier of: the 30th day after the date on which the press release is disseminated by the Corporation; and the original expiry date. The gross proceeds from the Private Placement will be used for development of Challenger's Barito coal project in Central Kalimantan, Indonesia and for working capital purposes.  Full Article

Challenger Deep Resources Corp Announces Closing of Private Placement
Thursday, 4 Oct 2012 05:14pm EDT 

Challenger Deep Resources Corp announced that, further to its news release dated September 19, 2012, it has now closed a non-brokered private placement consisting of 2,668,334 units (each a Unit) of the Company, at a subscription price of $0.30 per Unit for gross proceeds of $800,500.20. Each Unit consists of one common share and one common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one additional common share of the Company, for a period 24 months, at a price of $0.40 per common share. All shares issued pursuant to this private placement, and any shares issued in connection with the exercise of any warrants, if any, will be subject to a four month hold period expiring on February 5, 2013, in accordance with the policies of the TSX Venture Exchange and applicable securities laws. Aggregate finder's fees of $34,860 in cash and 116,200 finder's warrants (the Finder's Warrants) are to be paid and issued in conjunction with the closing of the private placement, with each Finder's Warrant having the same terms as the warrants forming part of the Units under this private placement. The gross proceeds from the Private Placement will be used for permitting of Challenger's Tabang Coal Project in East Kalimantan, Indonesia, for the investigation and acquisition of additional Indonesian coal exploration projects and for general corporate purposes.  Full Article

Challenger Deep Resources Corp Announces Private Placement
Wednesday, 19 Sep 2012 06:29pm EDT 

Challenger Deep Resources Corp announced a private placement of up to $800,000 (the Private Placement). Pursuant to the Private Placement, which is subject to acceptance by the TSX Venture Exchange, Challenger intends to issue, pursuant to applicable exemptions from registration and prospectus requirements of Canadian and United States securities laws, up to 2,666,667 Common Share Units (the Units) at a price of CAD0.30 per Unit. Each Unit is comprised of one Common Share and one Common Share Purchase Warrant (Warrant). Each Warrant entitles the holder to purchase one additional Common Share of Challenger at an exercise price of CAD0.40 for a period of two years. The offering may be brokered through an agent, non-brokered, or partially brokered and partially non-brokered. Challenger may pay a finder's fee in connection with the issue and sale of any or all of the Units under this offering. The finder's fee shall consist of a payment of no more than 7% of the gross proceeds of the offering in relation to subscribers introduced by any particular finder. The gross proceeds from the Private Placement will be used for permitting of Challenger's Tabang Coal Project in East Kalimantan, Indonesia, for the investigation and acquisition of additional Indonesian coal exploration projects and for general corporate purposes.  Full Article

Challenger Deep Resources Corp. Enters Into Memorandum Of Understanding With PT. Surya Dinamika Lestari
Tuesday, 1 May 2012 07:30am EDT 

Challenger Deep Resources Corp. announced that it has entered into a Memorandum of Understanding (MOU) with the Indonesian coal marketing firm, PT. Surya Dinamika Lestari (SDL) to market domestic thermal coal from Challenger's Tabang coal Project in East Kalimantan. Under the terms of the MOU the parties will work together to develop a marketing plan and negotiate a formal coal sales agreement for the Tabang coal production which is targeted for 2013. SDL will seek to secure domestic buyers for the coal and will advise Challenger on the best pricing parameters for different production scenarios associated with Tabang.  Full Article

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