Business
LOGAN RESOURCES LTD. - PRIVATE PLACEMENT CLOSED
LOGAN RESOURCES LTD. - PRIVATE PLACEMENT CLOSED
About this update from Intrepid Metals Corp.
[{"type":"text","content":"\n\n\n\n Nov. 24, 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, Nov. 24 /CNW/ - Logan Resources Ltd. (TSXV:LGR) (the "Company") today announced that it has closed a non-brokered private placement and has issued: (i) 10,283,332 Flow-Through units ("FT Units") at a price of $0.075 per FT Unit; and (ii) 6,666,667 Non-Flow-Through Units ("NFT Units") at a price of $0.06 per NFT Unit for gross proceeds of $1,171,250. Each FT unit is comprised of one "flow-through" common share and one non-flow-through share purchase warrant (a "FT Warrant"). Each FT Warrant is exercisable at a price of $0.15 per share for a period of one year. Each NFT Unit is comprised of one non-flow-through common share and one non-flow-through share purchase warrant (a "NFT Warrant"). Each NFT Warrant is exercisable at a price of $0.12 per share for a period of one year.\nThe Company also issued 722,500 NFT Units as finders fee in connection with the sale of FT Units and NFT Units. The common shares and the shares to be issued upon exercise of the Warrants are subject to a hold period until March 25, 2011.\nThe proceeds from the sale of the FT Units will be used to fund exploration work in the Company's mineral properties in the Yukon and British Columbia. The proceeds from the sale of the NFT Units will be used for general working capital.\nLogan Resources Ltd. is a mineral...