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| Home : Canadian Orebodies Announces Non-Brokered Private Placement |
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Nov 09
2011 |
Canadian Orebodies Announces Non-Brokered Private Placement |
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TORONTO, ONTARIO--(Marketwire - Nov. 8, 2011) - Canadian Orebodies Inc. (TSX VENTURE:CO) (the "Company") is pleased to announce that it is undertaking a non-brokered private placement (the "Offering") to raise up to $2,005,000 through the sale of units of securities of the Company.
The Offering will be comprised of units ("Units") and flow-through units ("Flow-Through Units"). The Units will be priced at $0.30 per Unit with each Unit consisting of one common share of the Company (each, a "Common Share") and one-half of one Common Share purchase warrant of the Company (each such whole Common Share purchase warrant, a "Warrant"). Each Warrant will be exercisable into one Common Share for a period of 18 months from closing at an exercise price of $0.475 per share beginning on the date of the closing of the Offering. The Flow-Through Units will be priced at $0.35 per Flow-Through Unit with each Flow-Through Unit consisting of one Common Share issued on a "flow-through" basis and one half of one Warrant. The expiry date of the Warrants may be accelerated, at the option of the Company, if the closing price of the Common Shares on the TSX Venture Exchange exceeds $0.60 for a period of 20 consecutive trading days commencing on the date that is four months and one day after the closing of the Offering by giving notice to the holders thereof, in which case the Warrants will expire on the twentieth business day after the date on which such notice is given by the Company. |
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| Source:http://www.marketwire.com/mw/release.do?id=1584094&sourceType=3 |
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