Makena Resources Inc. (TSXV:MKN) reported today that it will propose a non-brokered private placement of up to 12 million units priced at $0.05 per share for gross proceeds of $600,000.

As quoted in the press release:

Each unit will consist of one common share and one transferable share purchase warrant exercisable at $0.05 per share for a period of five years, subject to approval of the TSX Venture Exchange (“TSX.V”). The securities issued will be subject to a four-month hold period in accordance with applicable Canadian securities law.

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