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| Home : Prophecy Closes First Tranche of Private Placement |
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Apr 16
2013 |
Prophecy Closes First Tranche of Private Placement |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 16, 2013) - Prophecy Coal Corp. ("Prophecy" or the "Company") (TSX:PCY)(OTCQX:PRPCF)(FRANKFURT:1P2) announced that it has closed the first tranche of the non-brokered private placement (the "Private Placement") announced on February 7, 2013. The first tranche of the Private Placement raised gross proceeds of $613,560 through the issuance of 4,382,571 units (each a "Unit") of the Company, of which each Unit consists of one common share (a "Share") and 0.75 common share purchase warrant (a "Warrant"), at a purchase price of $0.14 per Unit. Each whole Warrant is exercisable into one common share of Prophecy at a price of $0.18, expiring two years from the date of issue. Finder's fees of 6% were paid in connection with a portion of the first tranche of the Private Placement. The foregoing Shares, Warrants and any shares issued upon the exercise of the Warrants are subject to a hold period which expires August 12, 2013. |
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| Source:http://www.marketwire.com/mw/release.do?id=1779211&sourceType=3 |
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