Search Minerals Inc. (TSXV:SMY) closed its non-brokered financing of 24,000,000 units for gross proceeds of $1,200,000, at a price of $0.05 per unit.
As quoted in the press release:
Each unit consists of one common share of the Company and one common share purchase warrant of the Company. Each warrant will entitle the holder to acquire an additional common share of Search for a period of one year following the date of issuance of the unit at a price of $0.10 per share.
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