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Long Harbour Exploration Corp Announces Non-Brokered Private Placement


Thursday, 31 Jan 2013 09:00am EST 

Long Harbour Exploration Corp announced that it is undertaking a non-brokered unit private placement at a price of $0.15 per unit, for gross proceeds of up to $500,000. Each unit will consist of one common share and one-half share purchase warrant. Each whole warrant will entitle the holder to acquire an additional common share for $0.30 per share over an 18-month period. Proceeds from the private placement will be used to strengthen the Company's balance sheet and for transaction costs associated with the proposed business (the Business) with Composite Transport Technologies (CTT). The $0.15 unit will allow investors to receive one share in the Company, which expects to complete a change of business in connection with the Business, as well as a share in the Company's two wholly owned uranium properties. The uranium properties are expected to be placed into a separate company prior to the change of business. 

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