Business
Cogitore Resources Inc. Announces Increase to Private Placement Financing
Cogitore Resources Inc. Announces Increase to Private Placement Financing.
About this update from Copper Road Resources Inc
[{"type":"text","content":"\n\n\n\nTORONTO, April 5 /CNW/ - Cogitore Resources Inc. (the "Company") (WOO,\nTSX-V) is pleased to announce that further to its press release of March 29,\n2007 whereby it announced that it expected to raise up to $2.525 million by\nway of a partially brokered, partially non-brokered private placement of\nFlow-Through Units and Units, the Company has now increased the size of the\nprivate placement, all subject to regulatory approval. Up to approximately\n$2.7 million of the placement will be raised through the issuance of\nFlow-Through Units, and up to approximately $660,000 will be raised through\nthe issuance of Units, for aggregate gross proceeds of up to approximately\n$3.36 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 $1 million of the Flow-Through Units will be brokered by\nNorthern Securities Inc. Northern Securities Inc. will receive a 6% commission\nand Broker Warrants equal to 10% of the number of Flow-Through Units sold\npursuant to its portion of the private placement. The Broker Warrants will be\nexercisable into Units at the issue price at any time prior to the date that\nis 24 months from the closing date of the private placement, and the exercise\nprice of the whole Common Share Purchase Warrant will be $1.05. The remainder\nof the financing will be non-brokered. Although the remainder of the placement\nis proposed to be non-brokered, the Company will protect offers received from\nregistered investment dealers when accepted by the Company and in such case\nthe Company will pay a cash commission of 6% of the purchase price of such\nUnits and Flow-Through Un...