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| Home : 1611985 Alberta Ltd. Announces First Tranche Closing of Private Placement Financing |
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Jul 18
2012 |
1611985 Alberta Ltd. Announces First Tranche Closing of Private Placement Financing |
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LETHBRIDGE, ALBERTA--(Marketwire - July 17, 2012) - 1611985 Alberta Ltd. ("1611985" or the "Corporation") announced today that the Corporation has completed the first tranche closing of a non-brokered private placement offering of common shares at a price of $0.25 per common share. The Corporation issued a total of 320,000 common shares for aggregate proceeds of $80,000 in this first tranche. The first tranche closing is part of a larger private placement offering by the Corporation (the "Offering") of up to 1,200,000 common shares for aggregate gross proceeds of up to $300,000, to be completed in multiple tranches. A finder's fee of up to 10% of the gross proceeds of the Offering may be paid in cash on all or any part of the Offering. Additionally, finder's warrants exercisable into common shares of the Corporation may be issued in an amount up to 10% of the number of common shares sold under the Offering by any particular finder. The finder's warrants will be exercisable into common shares at a price of $0.25 per common share for a period of one year from the date of issuance of the finder's warrants. |
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| Source:http://www.marketwire.com/mw/release.do?id=1681047&sourceType=3 |
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