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Crosshair Exploration & Mining Corp. announces c$15 million bought deal financing
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[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n\n\nDISSEMINATION IN THE UNITED STATES/\n\n\nVANCOUVER, March 6 /CNW/ - Crosshair Exploration & Mining Corp.\n(CXX-TSXV) ("Crosshair" or the "Company") has today entered into an agreement\nwith Canaccord Capital Corporation, under which Canaccord has agreed to buy\nfrom Crosshair 7,250,000 non flow-through units (the "Units") and 3,031,000\nflow-through common shares of the Company (the "Flow-Through Shares") at an\nissue price of C$1.38 per Unit and C$1.65 per Flow-Through Share for gross\nproceeds to the Company of C$15,006,150 (the "Offering"). Each Unit consists\nof one common share and one transferable common share purchase warrant (a\n"Warrant"). Each Warrant will entitle the holder thereof to purchase one\ncommon share at a price of C$2.00 expiring 18 months from the closing of the\nOffering.\n\n\nCrosshair will grant Canaccord an option to purchase additional Units and\nFlow-Through Shares in any combination of Units and Flow-Through Shares to\nraise additional gross proceeds of up to 15% of the Offering exercisable up to\n30 days following the closing of the Offering, to cover over-allotments, if\nany. The Company expects to file a preliminary short form prospectus with the\nsecurities regulatory authorities to qualify the Units and Flow-Through Shares\nfor distribution.\n\n\nThe net proceeds of the Offering will be used for exploration and\ndevelopment of the Company's mineral projects and general corporate purposes.\nClosing is expected on or about March 31, 2008.\n\n\nThe Offering is being made pursuant to a short form prospectus to be\nfiled in all provinces except Quebec. The securities offered have not been\nregistered under the U.S. Securities Act of 1933, as amended, and may not be\noffered or sold in the United States absent registration or an applicable\nexemption from the registration requirements. This press release shall not\nconstitute an offer to sell or the solicitation of an offer to buy nor shall\nthere be any sale of the securities in any State in which such offer,\nsolicitation or sale would be unlawful.\n\n\nAbout Crosshair\n\n\nCrosshair is a dominant player in the exploration for uranium in the\nCentral Mineral Belt of Labrador-Canada's most promising emerging ur...