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GLOBAL MINERALS ANNOUNCES PRIVATE PLACEMENT WITH ESPERANAZA RESOURCES CORP. AND AFFILIATES OF SPROTT ASSET MANAGEMENT
GLOBAL MINERALS ANNOUNCES PRIVATE PLACEMENT WITH ESPERANAZA RESOURCES CORP. AND AFFILIATES OF SPR...
About this update from District Metals Corp.
[{"type":"text","content":"\n\n\n\n Nov. 4, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, Nov. 4 /CNW/ - Global Minerals Ltd. (CTG: TSX-V) is pleased to announce a private placement financing to raise\n $4,000,000. The financing will raise up to $3,340,005 through the\n issuance of up to 9,542,871 units (the "Units") at a price of $0.35 per\n Unit and an additional $659,995 through the issuance of special\n warrants.\n\n\nEach Unit will consist of one common share in the capital of the Company\n and one-half of one share purchase warrant. Each whole warrant (a\n "Warrant") is exercisable to purchase one additional common share for a\n period of two years at a price of $0.55 per warrant share.  If, after\n the four (4) month anniversary of closing, the closing trading price of\n the common shares of the Company on the TSX Venture Exchange exceeds\n $0.70 for 20 consecutive trading days, the Company shall have the right\n to give notice within five days thereof to accelerate the expiry date\n of the Warrants to a date which is 30 trading days following the\n notice.\n\n\nSprott Inc. and affiliates, including Sprott Private Wealth, have agreed\n to endeavour to find purchasers for 5,714,285 Units and Esperanza\n Resources Corp. (EPZ.V) intends to subscribe for 2,274,200 Units\n resulting in Esperanza maintaining a 19.9% ownership interest in the\n Company.  In addition, Esperanza also intends to subscribe for\n 1,885,700 special warrants at a price of $0.35 per spe...