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Provider: Reuters Investment Profile
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Parkside Resources Corp Closes Secondary Offering


Tuesday, 30 Oct 2012 07:00am EDT 

Parkside Resources Corp announced the closing of the Secondary Offering as previously announced in their news releases dated August 9, 2012 and August 17, 2012 and as described in its Amended and Restated Listing Application dated July 31, 2012. The Company has issued 2,417,000 flow-through common share units (Flow-Through Units) at $0.12 per unit for gross proceeds of $290,040 (the Secondary Offering). Each Flow-Through Unit consists of one flow-through common share (the Flow-Through Shares) and one common share purchase warrant (the Warrants). Each Warrant entitles the holder thereof to acquire one common share in the capital of the Company at a price of $0.20 per common share until April 29, 2015. The Warrants will not be listed for trading. In connection with the Secondary Offering, Macquarie Private Wealth Inc. received a cash fee of $29,004 and was issued 241,700 agent's options (the Agent's Options). Each Agent's Option is exercisable to purchase one common share at a price of $0.10 until April 29, 2015. All securities issued under or in connection with the Secondary Offering are subject to a hold period that expires on March 1, 2013. Proceeds from the issue of the Flow-Through Shares held within the Flow-Through Units will be used primarily to fund a portion of a planned 1,500m drill program, scheduled to commence in the winter of 2013. 

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22 Aug 2014