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Cogitore Resources Inc. Completes Non-Brokered Portion of Private Placement
Cogitore Resources Inc. Completes Non-Brokered Portion of Private Placement.
About this update from Copper Road Resources Inc
[{"type":"text","content":"\n\n\n\nTORONTO, April 23 /CNW/ - Cogitore Resources Inc. (the "Company") (WOO,\nTSX-V) is pleased to announce that on April 23, 2007 the Company completed the\nnon-brokered portion of its previously announced private placement of\n2,500,000 Flow-Through Units to raise $2,000,000 and 1,314,860 Units to raise\n$920,402 for aggregate gross proceeds of $2,920,402.\n\n\nAs previously announced, the Flow-Through Units were priced at $0.80 and\nthe Units were priced at $0.70. Each Flow-Through Unit consists of one\nFlow-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 consists of one Common Share and one half Common Share Purchase Warrant.\nEach whole Common Share Purchase Warrant that is part of the Unit will entitle\nthe holder to purchase one additional Common Share at a price of $0.90 for a\nperiod of two years after the closing of the private placement.\n\n\nAs previously disclosed, when accepted by the Company, the Company\nprotected offers received from registered investment dealers. The Company\nprotected offers from Haywood Securities Inc., Jones, Gable & Company Limited,\nLaurentian Bank Securities, Jennings Capital Inc., Canaccord Capital Corp. and\nBMO Nesbitt Burns Inc. As consideration for their services, these investment\ndealers were paid a 6% commission for an aggregate total of $76,224.\n\n\nThe Common Shares issued at closing are, and the Common Shares issued\nupon exercise of the Common Share Purchase Warrants will be subject to resale\nrestrictions pursuant to applicable securities laws requirements and notably\nto a hold period of four months plus one day from the closing date.\n\n\nThe proceeds of the Flow-Through portion of the financing will be used to\nfund the Company's 2007-08 exploration program, while the non-Flow-Through\nportion of the financing will be used for the Company's 2007-08 exploration\nprogram and for general corporate purposes.\n\n\nThe Company expects the brokered portion of the financing to be completed\non or about April 25, 2007.\n\n\nThe Company now has 26,603,733 common shares issued and outstanding.\n\n\nThe Comp...