Business
Cogitore Resources Inc. Announces Further Increase to Private Placement Financing
Cogitore Resources Inc. Announces Further Increase to Private Placement Financing.
About this update from Copper Road Resources Inc
[{"type":"text","content":"\n\n\n\nTORONTO, April 11 /CNW/ - Cogitore Resources Inc. (the "Company")\n(WOO, TSX-V) is pleased to announce that further to its press releases of\nMarch 29, 2007 and April 5, 2007 whereby it announced that it expected to\nraise up to $2.7 million by way of a partially brokered, partially\nnon-brokered private placement of Flow-Through Units and Units, the Company\nhas now increased the size of the private placement, subject to regulatory\napproval. Up to approximately $4 million of the placement will be raised\nthrough the issuance of Flow-Through Units, and up to approximately\n$1.71 million will be raised through the issuance of Units, for aggregate\ngross proceeds of up to approximately $5.71 million.\n\n\nAs previously announced, the Flow-Through Units will be priced at $0.80\nand the Units will be priced at $0.70. Each Flow-Through Unit will consist of\none Flow-Through Common Share and one half Common Share Purchase Warrant. Each\nwhole Common Share Purchase Warrant that is part of the Flow-Through Unit will\nentitle the holder to purchase one additional Common Share at a price of $1.05\nfor a period of two years after the closing of the private placement. Each\nUnit will consist of one Common Share and one half Common Share Purchase\nWarrant. Each whole Common Share Purchase Warrant that is part of the Unit\nwill entitle the holder to purchase one additional Common Share at a price of\n$0.90 for a period of two years after the closing of the private placement.\n\n\nThe sale of $2 million of the Flow-Through Units and $1 million of the\nUnits will be underwritten by Northern Securities Inc. ("Northern"). Northern\nwill receive a 6% commission and Flow-Through Broker Warrants and Broker\nWarrants, respectively, equal to 10% of the number of Flow-Through Units and\nUnits, respectively, sold pursuant to its portion of the private placement.\nThe Broker Warrants will be exercisable into Flow-Through Broker Units and\nBroker Units, respectively, at the issue price at any time prior to the date\nthat is 24 months from the closing date of the private placement. Each\nFlow-Through Broker Unit and Broker Unit will consist of one common share and\none half of one Common Share Purchase Warrant, the exercise price of the whole\nCommon Share Purchase Warrants will be $1.05 and $0.90, respectively.\n\n\nThe remain...