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Silver Bear Resources Inc Announces Private Placement Financing of Up to CAD $4.25 Million


Monday, 7 Oct 2013 08:50am EDT 

Silver Bear Resources Inc announced that it intends to complete a private placement financing of up to 32,692,307 units (Units) at a price of $0.13 per Unit for gross proceeds in the amount of up to $4,250,000 (the Offering). Each Unit shall consist of one common share of the Company (a Common Share) and one common share purchase warrant (a Warrant). Each Warrant will entitle the holder thereof to acquire a Common Share at the exercise price of $0.245 per share for a period of up to 24 months following the closing of the Offering. The Company intends to use the gross proceeds of the Offering to finance its exploration program and Feasibility Study for the Mangazeisky Silver Project, to repay debt and supplement general working capital. 

Company Quote

0.13
0.02 +18.18%
16 Sep 2014