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Prophecy Coal Corp.(TSX:PCY) announced that it has closed a $10 million private placement. The private placement was first announced on March 1, 2012. Prophecy increased the size of the non-brokered private placement to 22,363,866 common shares at $0.45 per share for gross proceeds of $10,063,740.
Prophecy Coal Corp.(TSX:PCY) announced that it has closed a $10 million private placement. The private placement was first announced on March 1, 2012. Prophecy increased the size of the non-brokered private placement to 22,363,866 common shares at $0.45 per share for gross proceeds of $10,063,740.
As quoted in the press release:
Company insiders invested $508,500 and together with existing shareholders have subscribed for a majority of this financing. Finder’s fees of 6% of the proceeds placed, payable in cash, were paid on certain arms-length portions of the placement.
Click here to read the Prophecy Coal Corp. (TSX:PCY) press release
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