Business
Anglo Canadian Closes Financing With MineralFields Group
Dec. 31, 2010 (TheNewswire.ca) -- Anglo-Canadian Uranium Corp. ("Anglo-Canadian" or the "Com...
About this update from Canada One Mining Corp
[{"type":"text","content":"\nAnglo Canadian Closes Financing With MineralFields Group\n\n\n Dec. 31, 2010 (TheNewswire.ca) -- Anglo-Canadian Uranium Corp. (\"Anglo-Canadian\" or the \"Company\")(TSX Venture: URA) is pleased to announce a non-brokered private placement (the \"Private Placement\") gross proceeds of up to $900,000 with MineralFields Group.The Company has closed the first tranche of the Private Placement and has issued an aggregate of 2,500,000 flow-through units (\"FT Units\") at a price of $0.30 per FT Unit for gross proceeds of $750,000. Each FT Unit consists of one \"flow-through\" common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to purchase one common share of the Company for a period of 24 months following the closing of the first tranche Private Placement at an exercise price of $0.40 per share for the first year and an exercise price of $0.45 thereafter.Limited Market Dealer Inc. (\"LMDI\") received a cash finder's fee of $37,500 representing 5% of the gross proceeds from the first tranche of the Private Placement and received 150,000 warrants exercisable into common shares on the same terms as the warrants issued pursuant to the Private Placement. All securities issued pursuant to the first tranche of the Private Placement will be subject to a statutory four month hold period expiring May 1, 2011.The second tranche of the Private Placement will consist of up to 600,000 non-flow-through units (\"NFT Units\") at a price of $0.25 per NFT Unit to raise gross proceeds of up to $150,000. Each NFT Unit will consist of one non-flow through common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to purchase one common share of the Company for a period of 24 months following the closing of the second tranche of the Private Placement at an exercise price of $0.35 per share for the first year and an exercise price of $0.40 thereafter. The Company anticipates closing the second tranche of the Private Placement in early January, 2011.\"We are very pleased to be entering this relationship with MineralFields Group\", said Anglo-Canadian President Len Harris. \"This is an important milestone in the growth of Anglo-Canadian Uranium Corp. (TSXV:URA) and we look forward to working with MineralFields Group.\"The proceeds of this financing will...