Business
Georox Announces Six Million Unit Financing
Georox Announces Six Million Unit Financing
About this update from Prospera Energy Inc.
[{"type":"text","content":"\n\n\n\n Sep. 16, 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\nKELOWNA, BC, Sept. 16 /CNW/ - Georox Resources Inc. ("Georox" or the "Company") (GXR:TSX-V; OF6A:FRA) is pleased to announce a non-brokered equity private placement of up to 6,000,000 units at a price of $0.22 per unit. Each unit shall consist of one common share and one half common share purchase warrant. Each whole warrant shall be exercisable for one common share at a price of $0.40 per share for a period of two years following closing and placement shall be subject to all receipt of all regulatory approvals.\nThe proceeds of the Placement will be used for general working capital. Agents may be paid a finder's fee of up to 10 per cent of the aggregate subscription amounts secured by such agents pursuant to the private placement. The units to be issued under the private placement will be issued pursuant to exemptions from the prospectus requirements of applicable securities legislation and will be subject to resale restrictions as required under the applicable securities legislation. An additional 3,000,000 will be reserved for issuance on exercise of the common shares purchase warrants issued pursuant to the Private Placement. After giving effect to the private placement, the corporation will have 22,631,186 outstanding common shares.\n\n\nCAUTIONARY STATEMENT\n\nNeither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Ex...