The Conversation (0)
Foran Mining Corporation (TSXV:FOM) has negotiated a non-brokered private placement of up to 6,400,000 shares, to be issued on a flow-through basis, at $0.25 per share for aggregate gross proceeds of up to $1.6 million. The offering is anticipated to close on or about December 19.
As quoted in the press release:
The gross proceeds of the Offering will be used for CEE. The Company will use its best effort to ensure that such CEE qualify as a “flow-through mining expenditure” for the purposes of the Income Tax Act (Canada), related to the exploration of the Company’s landholdings in east-central Saskatchewan. The Company will renounce such CEE with an effective date of no later than December 31, 2014 for Canadian exploration expenses prior to December 31, 2015.
Click here to read the Foran Mining Corporation (TSXV:FOM) press release
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