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Calibre Mining Corp. (CVE:CXB) reports that it has increased the non-brokered private placement financing to $3,500,000 from $3,000,000 due to investment interest.
The press release is quoted as saying:
The non-brokered private placement will consist of the Company issuing up to 35,000,000 common shares at a price of $0.10 per share. To date, the Company has closed on a total of 20,600,000 common shares for gross proceeds of $2,060,000 in connection with this private placement. The Company expects to complete this private placement by issuing the remaining 14,400,000 common shares for gross proceeds of $1,440,000 in connection with a third tranche shortly. The Private Placement is subject to final approval of the TSX Venture Exchange.
A finder’s fee may be paid in conjunction with the completion of the offering of up to 6.0% of the gross proceeds, payable in cash or the equivalent in common shares. The private placement is subject to approval of the TSX Venture Exchange.
The proceeds of this offering will be used to advance the exploration and development of the Company’s Borosi Project in Nicaragua and for general working capital purposes.
Click here to access the entire news release.
Click here to access Calibre’s company profile.(TSXV:CXB)