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Apella Resources Inc. (TSX VENTURE:APA)(FRANKFURT:NWN),reported that the Company has arranged a $150,000 Cdn, non-brokered, non flow-through Private Placement through the issuance of 750,000 units at a price of $0.20 per unit.
Apella Resources Inc. (TSX VENTURE:APA)(FRANKFURT:NWN),reported that the Company has arranged a $150,000 Cdn, non-brokered, non flow-through Private Placement through the issuance of 750,000 units at a price of $0.20 per unit.
The press release is quoted as saying:
Each unit consists of one common share and one share purchase warrant entitling the holder to purchase one additional common share of the Company for each warrant exercised at $0.25 per share for a period of 18 months. All shares issued will be subject to a 4 month hold period per the policies of the TSX Venture Exchange and this private placement is subject to the approval of the TSX Venture Exchange. Proceeds will be allocated to exploration of Apella’s Iron-T Vanadium-Titanium-Iron Project at Matagami, Quebec on which drilling is to begin the afternoon of May 5th, 2010.
Click here to access the entire press release