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Provider: Reuters Investment Profile
Provider: GlobalData
Provider: GlobalData
Provider: GlobalData

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Peat Resources Ltd Announces Close of Private Placement

Monday, 8 Jul 2013 02:31pm EDT 

Peat Resources Ltd announced that it closed its previously announced brokered private placement filed under the Temporary Relief From Certain Pricing Requirements. The Company issued 3,750,000 units at a price of $0.04 per unit, for aggregate gross proceeds of $150,000. Each unit consists of one common share in the capital of the Company (a "Common Share") plus one warrant. Each warrant will entitle the holder thereof to purchase one Common Share for a period of one year from the date of issuance of the warrants at an exercise price of $0.05 per Common Share and for three additional years for a price of $0.10. The securities issued pursuant to the private placement are subject to a four-month hold period. The private placement remains subject to final acceptance by the TSX Venture Exchange (the "TSXV"). The Company engaged IBK Capital Corp. to assist in the private placement. As a result, a commission of 10% cash and 10% brokers warrants (carrying the same terms as the unit warrants) was given on Canadian subscriptions that totalled $110,000. 

Company Quote

-0.0050 -20.00%
16 Jul 2014