Excalibur Completes First Tranche of Private Placement

Excalibur Resources Ltd. (CNQ:XBR) reports its completion of  the first tranche of a private placement and issued 2,670,000 Units at $0.15 per unit, for gross proceeds of $400,500.

The press release is quoted as saying:

Each Unit consists of one Non-Flow-Through common share and one share purchase warrant exercisable at $0.25 per share in the first year and at $0.30 per share in the second year. No finder’s fees were paid in connection with this first tranche.

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