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Explor Resources Inc Closes Private Placement Of $750,000


Thursday, 13 Jun 2013 03:52pm EDT 

Explor Resources Inc announced that it has closed a non-brokered private placement of Flow-Through Units for a total gross amount of CAD750,000. The Private Placement consists of 15,000,000 flow-through units at a price of $0.05 each. Each Flow-Through Unit consists of one common share issued on a flow-through basis and of one half (1/2) common share purchase warrant. Each whole warrant entitles the subscriber to purchase one common share of the Corporation at a price of $0.10 each for a period of 12 months, expiring on June 13, 2014. In connection with the Private Placement, the Corporation paid a finder's cash commission equal to 9% of the gross proceeds from the sale of the Flow-Through Units and granted Finder's Warrants entitling it to purchase that number of Common Shares of the Corporation equal to 4% of the aggregate number of Flow-Through Units issued and sold under the Private Placement at a price of $0.10 per Common Share at any time on or prior to June 13, 2014. 

Company Quote

0.05
0.0 +0.00%
11 Jul 2014