Business
Cogitore Resources Inc. Completes Brokered Portion of Private Placement
Cogitore Resources Inc. Completes Brokered Portion of Private Placement.
About this update from Copper Road Resources Inc
[{"type":"text","content":"\n\n\n\nTORONTO, April 25 /CNW/ - Cogitore Resources Inc. (the "Company")\n(WOO, TSX-V) is pleased to announce that on April 25, 2007 the Company\ncompleted the brokered portion of its previously announced private placement\nof 2,500,000 Flow-Through Units to raise $2,000,000 and 1,428,572 Units to\nraise approximately $1,000,000 for aggregate gross proceeds of approximately\n$3,000,000. The Company had previously announced (on April 23, 2007) that it\nhad raised aggregate gross proceeds of $2,920,402 through the non-brokered\nportion of this private placement. Total aggregate gross proceeds for the\nprivate placement totalled approximately $5,920,402.\n\n\nAs previously announced, the Flow-Through Units were priced at $0.80 per\nFlow-Through Unit and the Units were priced at $0.70 per Unit. Each\nFlow-Through Unit consists of one Flow-Through Common Share and one half\nCommon Share Purchase Warrant. Each whole Common Share Purchase Warrant that\nis part of the Flow-Through Unit will entitle the holder to purchase one\nadditional Common Share at a price of $1.05 for a period of two years after\nthe closing of the private placement. Each Unit consists of one Common Share\nand one half Common Share Purchase Warrant. Each whole Common Share Purchase\nWarrant that is part of the Unit will entitle the holder to purchase one\nadditional Common Share at a price of $0.90 for a period of two years after\nthe closing of the private placement.\n\n\nAs previously disclosed, Northern Securities Inc. ("Northern") received a\n6% commission totalling approximately $180,000 and Flow-Through Broker\nWarrants and Broker Warrants equal to 10% of the number of Flow-Through Units\nand Units, respectively, sold pursuant to its portion of the private\nplacement. The Broker Warrants will be exercisable into Flow-Through Broker\nUnits and Broker Units, respectively, at the issue price at any time prior to\nthe date that is 24 months from the closing date of the private placement.\nEach Flow-Through Broker Unit and Broker Unit will consist of one common share\nand one half of one Common Share Purchase Warrant, the exercise price of each\nwhole Common Share Purchase Warrant will be $1.05 and $0.90, respectively.\nNorthern received 250,000 Flow-Through Broker Warrants and 142,857 Broker\nWarrants.\n\n\nThe Common Shares issued at closing...