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Georox Resources Announces Proposed Private Placement of up to $450,000
Georox Resources Announces Proposed Private Placement of up to $450,000 Canada New...
About this update from Prospera Energy Inc.
[{"type":"text","content":"\n\n\n\nGeorox Resources Announces Proposed Private Placement of up to $450,000\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nKELOWNA, BC, May 24, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/  \n\n\n\nKELOWNA, BC, May 24, 2017 /CNW/ - Georox Resources Inc. (\"Georox\" or the \"Corporation\") (GXR: TSX-V; OF6A:FRA) is seeking to raise $450,000 in a non-brokered private placement (\"Private Placement\").\n\nUnder the proposed terms of the Private Placement, and subject to TSXV approval, the Corporation will issue, up to 6,428,571 units at a price of $0.07 per unit for gross cash proceeds of approximately $450,000 the (\"Offering\"). \n\nEach unit will consist of one (1) Common Share and one (1) Common Share half purchase warrant. Each whole warrant will entitle the holder to acquire one (1) Common Share at a price of $0.14 for a period of two years to and including May 22, 2019. The Offering will be completed in one or more tranches and the securities under the Offering will have a hold period of four (4) months from the applicable closing date of each tranche. Closing of the Offering is not subject to a minimum aggregate subscription amount but shall be subject to receipt of all required regulatory approvals, including the TSX Venture Exchange.\n\nThe Corporation may pay finders' fees to eligible persons consisting of cash of up to 10% of the proceeds from the units sold to investors introduced by and attributable to the efforts of the finders. \n\nAfter giving effect to the maximum Offering, Georox will have 29,402,466 common shares outstanding on a basic basis. Any participation by insiders of the Corporation in the Offering will be on the same terms as the arm's length investors. The Corporation has no reason to believe that the Private Placement will result in a change of control of the Corporation. \n\nThe Offering is expected to be completed within thirty days.\n\nThe Private Placement proceeds will be used for the optimization of production on ...