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Quaterra Resources Inc. (TSXV:QTA) is seeking TSX Venture Exchange and NYSE MKT approval of a “best efforts” non-brokered private placement offering of up to 25,000,000 units at a price of US$0.10 per unit, for gross proceeds of up to US$2.5 million.
Quaterra Resources Inc. (TSXV:QTA) is seeking TSX Venture Exchange and NYSE MKT approval of a “best efforts” non-brokered private placement offering of up to 25,000,000 units at a price of US$0.10 per unit, for gross proceeds of up to US$2.5 million.
According to the press release:
Each unit will consist of one common share of the Company and one non-transferable common share purchase warrant exercisable into one common share at a price of US$0.15 for a period of 3 years from the date of closing. The private placement is expected to close on or about August 28, 2013, subject to finalization of subscription agreements and receipt of regulatory approval.
CEO Steven Dischler stated:
This modest equity offering allows the Company to continue optimizing our assets while we evaluate alternatives to further explore and develop our Yerington projects into a world-class copper district. We evaluated several alternatives and felt this private placement was in the best interest of our Company at this time. We will also continue with our plans to monetize non-core assets as a source of organic funds to advance Yerington.
Click here to view the full press release.
QTA:CA