The Conversation (0)
San Marco Resources Inc.(TSXV:SMN) announced the arrangement of a private placement for gross proceeds of $500,000. The Company expects to close the private placement in early January, 2012.
As quoted in the press release:
Each unit will consist of one common share and one-half of a non-transferable warrant, each whole warrant exercisable to purchase a further share for 18 months at $0.20. After the four month restricted resale period expires, the expiry of the warrants may be accelerated if the closing price of the Company’s shares exceeds $0.40 per share for 20 consecutive trading days and the Company gives notice to the warrant holders that the warrants must be exercised or the warrants will expire in 30 days.
Click here to read the San Marco Resources Inc. (TSXV:SMN) press release
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