Business
Georox Announces Additional Financing for Gross Proceeds of $1.2 Million
Georox Announces Additional Financing for Gross Proceeds of $1.2 Million
About this update from Prospera Energy Inc.
[{"type":"text","content":"\n\n\n\n Oct. 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\n KELOWNA, BC, Oct 4 /CNW/ - Georox Resources Inc. ("Georox"\n or the "Company") (GXR:TSX-V; OF6A:FRA) is pleased to\n announce that in addition to the private placement financing previously\n announced by the Company on September 16, 2010 (the "First\n Private Placement"), the Company will issue up to 4,000,000 units of\n the Company ("Units") at a price of $0.30 per Unit for\n aggregate gross proceeds of $1.2 million on a non-brokered private\n placement basis (the "Second Private Placement"). Each Unit\n consists of one common share of the Company ("Common Shares")\n and one Common Share purchase warrant ("Warrant"). Each\n Warrant shall be exercisable for one Common Share at a price of $0.50\n per Common Share for a period of one year following closing of the\n Second Private Placement and the Second Private Placement shall be\n subject to receipt of regulatory approval.  Certain Placees have\n expressed an interest in taking up all of the Units pursuant to the\n Second Private Placement; accordingly, Georox expects the Second Private\n Placement to be fully subscribed.\n \n\n The Second Private Placement is in addition to the First Private\n Placement.  Both the First Private Placement and the Second Private\n Placement are expected to close on or about October 8, 2010.\n \n\n The proceeds of the Second Private Placement will be us...