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Provider: Reuters Investment Profile
Provider: Streetwise Reports
Provider: Streetwise Reports

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Confederation Minerals Ltd Announces Closing Of Non-Brokered Private

Wednesday, 26 Jun 2013 02:23pm EDT 

Confederation Minerals Ltd announced that it has closed its previously announced brokered private placement raising gross proceeds of $1,000,000 by the issuance of 10,000,000 units at a price of $0.10 per Unit. Each Unit consists of one common share and one common share purchase warrant. Each Warrant entitles the holder thereof to purchase one additional common share of the Company at a price of $0.15 per share for a period of 12 months from the closing date of the Financing. All securities issued in this Financing are subject to a statutory hold period expiring on October 27, 2013. The Company has agreed to pay a finder's fee of $54,000 cash and 540,000 Warrants in connection with the Financing. The proceeds from the Offering will be used to fund exploration programs on the Company's Newman Todd gold prospect in the Red Lake gold camp and for general working capital and corporate purposes. 

Company Quote

0.02 +23.53%
17 Apr 2014