Business
LOGAN RESOURCES ANNOUNCES PRIVATE PLACEMENT OF UP TO $1,000,000
LOGAN RESOURCES ANNOUNCES PRIVATE PLACEMENT OF UP TO $1,000,000
About this update from Intrepid Metals Corp.
[{"type":"text","content":"\n\n\n\n Oct. 25, 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/NOT FOR DISTRIBUTION TO NEWS WIRE SERVICES IN THE UNITED STATES/\n\nVANCOUVER, Oct. 25 /CNW/ - Logan Resources Ltd. (TSXV:LGR) ("The Company") today announced a non-brokered private placement consisting of up to 6,666,667 non-flow through units (the "Non FT Units") at a price of $0.06 per non-flow through unit, and up to 8,000,000 flow through units (the "FT Units") at a price of $0.075 per flow through unit for total gross proceeds of up to $1,000,000 (the "Offering").\nEach Non FT Unit shall consist of one non flow-through common share and one non-flow-through share purchase warrant, with each such warrant exercisable into one common share of the Company for one year from closing date at a price of $0.12.\nEach FT Unit shall consist of one flow-through common share and one non-flow-through share purchase warrant, with each such warrant exercisable into one common share of the Company for one year from closing date at a price of $0.15.\nA 5% finder's fees will be attached to the financing in the form of stock. The Offering is subject to TSX Venture Exchange acceptance. All securities issued pursuant to the Offering will be subject to a four month hold period from the closing date.\nThe proceeds from the flow-through portion of the financing will be used on the Company's properties in the Yukon and British Columbia. Proceeds from the non flow- through portion of the financin...