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Cadillac Ventures Inc. (TSX VENTURE:CDC) announced that it has closed the second and final tranche of its previously announced private placement financing and has raised total gross proceeds under the financing of approximately $4.61 million.
Cadillac Ventures Inc. (TSX VENTURE:CDC) announced that it has closed the second and final tranche of its previously announced private placement financing and has raised total gross proceeds under the financing of approximately $4.61 million.
The press release is quoted as saying:
Under the second tranche closing, Cadillac issued an additional 8,205,333 units (“Units”) and 7,200,000 flow-through units (“Flow-Through Units”) for additional gross proceeds of approximately $3.61 million. Each Unit was issued at $0.22 and consists of one common share and one-half of one warrant. Each Flow-through Unit was issued at $0.25 and consists of one “flow-through” common share and one-half of one warrant. Each whole warrant will be exercisable for 24 months for one common share at $0.35. In total, Cadillac issued 11,081,333 Units and 8,684,000 Flow-Through Units pursuant to this financing.
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