Analyst Research
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Provider: Reuters Investment Profile
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$20.00
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Provider: GlobalData
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$250.00
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Provider: GlobalData
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$125.00
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Provider: GlobalData
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$250.00
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Detector Exploration Ltd. Revises Private Placement
Detector Exploration Ltd. announced that it has amended the terms of the previously announced private placement. The Corporation will be issuing up to 4,000,000 flow through units (the Units) at price of $0.05 per Unit for gross proceeds of $200,000. Each Unit is comprised of one flow through common share and one common share purchase warrant (the Warrant). Each Warrant entitles the holder thereof to purchase one common share for a period of two years from the date of issuance. The Warrants are exercisable at a price of $0.10 per common share. The proceeds will be used for further exploration and development of the Corporation's properties and for general working capital. As one of the subscribers to the private placement who will be taking up 2,000,000 Units, is currently a director of the Corporation and the private placement will create a new insider and, upon the exercise of the warrants, two new control persons (as those terms are defined by the TSX Venture Exchange), the Corporation intends to obtain shareholder approval through the written consent of disinterested shareholders owning a minimum of 50% of the disinterested common shares.
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