Business
Salazar Announces C$6 Million "Bought Deal" Financing
Salazar Announces C$6 Million "Bought Deal" Financing.
About this update from Salazar Resources Limited
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n\n\nDISSEMINATION IN THE UNITED STATES/\n\n\nVANCOUVER, May 11 /CNW/ - Salazar Resources Ltd. (TSXV: SRL, FSX: CCG) is\npleased to announce that it has entered into an agreement with a syndicate led\nby Canaccord Capital Corporation (the "Underwriters"), which has agreed to\npurchase, on a bought deal private placement basis, 2,000,000 Units of the\nCompany at a price of C$3.00 per Unit, for aggregate gross proceeds of\nC$6,000,000. Each Unit will consist of one common share and one common share\npurchase warrant. Each warrant, expiring 24 months from closing, will entitle\nthe holder to subscribe for one additional common share at a price of C$4.00.\n\n\nThe Underwriters will also have the option to purchase up to an\nadditional 1,000,000 Units at the issue price for a period of up to 48 hours\nprior to closing for additional gross proceeds of up to C$3,000,000. The\nCompany plans to use the net proceeds of this financing to continue\nexploration on the Company's mineral properties and for general working\ncapital purposes.\n\n\nThe offering is scheduled to close on or about May 31, 2007 and is\nsubject to certain conditions including, but not limited to, the receipt of\nall necessary approvals including the approval of the TSX Venture Exchange.\nThe securities to be issued under this offering will be offered by way of\nprivate placement exemptions in all the provinces of Canada, offshore and in\nthe United States on a private placement basis pursuant to an exemption from\nthe registration requirements of the United States Securities Act of 1933, as\namended.\n\n\nThis news release is intended for distribution in Canada only and is not\nintended for distribution to United States newswire services or dissemination\nin the United States. The Company and Canaccord agree that the Units will not\nbe offered or sold in the United States or to, or for the account of, United\nStates persons except to accredited investors pursuant to the exemption from\nthe registration requirements contained under the United States Securities Act\nof 1933, as amended to deal with the possibility that the Units may be sold to\nUnited States persons.\n\n\n","length":2288,"tagName":"div"}]