Appalaches Resources closes $850,000 financing
2010-06-21 14:31 ET - News Release
See News Release (C-APP) Appalaches Resources Inc
Mr. Andre Proulx of Applaches Resources reports
RESSOURCES APPALACHES: $850,000 IN PRIVATE PLACEMENTS
As agreed in a deal signed with Strikepoint Gold Inc. on June 3, Appalaches Resources Inc. has closed a private placement in the amount of $700,000 as well as an additional $150,000 from qualified investors for a total of $850,000.
This offer consisted in the issuance of units at the price of seven cents each. Each unit consisted of flow-through common shares at the price of seven cents per share and a subscription warrants.
Each three-year warrant gives its holder the right to purchase one common share at the price of 10 cents per share until June 17, 2013.
These securities are subject to a four-month holding period. The investment is closed under the condition of the later consent of the TSX Venture Exchange.
The proceeds from the placement will be earmarked primarily for exploration work on the properties located in Nova Scotia. With this placement, the company now has 95,317,460 shares issued and outstanding as well as a new insider, Strikepoint Gold Inc.
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