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Alabama Graphite Corp. (CSE:ALP,OTC:ABGPF,FWB:A1G.F WKN: A1J35M) has closed its previously announced private placement financing of up to Cdn$2,150,000l ed by First Republic Capital Corporation. As quoted in the press release: The terms of the Private Placement were amended to increase the now-flow-through offering from Cdn$1,750,000 to Cdn$2,150,000 and to cancel the originally contemplated flow-through offering …
As quoted in the press release:
The terms of the Private Placement were amended to increase the now-flow-through offering from Cdn$1,750,000 to Cdn$2,150,000 and to cancel the originally contemplated flow-through offering of Cdn$150,000. The Company increased the size of the non-flow-through offering as a result of increased demand and cancelled the flow-through offering after it received legal advice from counsel that the Company must first apply for and receive certification by the Minister of Natural Resources (Canada) of the graphite deposit on its Hearst Property as a “mineral resource” (within the meaning of that term in section 248 of the Income Tax Act (Canada)) before it could sell flow-through shares to conduct exploration on the Hearst Property.
Click here to read the Alabama Graphite Corp. (CSE:ALP) press release
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