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BacTech Mining Corporation (CVEE:BM) reports that the company has closed the private placement of units announced on September 7, 2010 for gross proceeds of $430,000.
BacTech Mining Corporation (CVEE:BM) reports that the company has closed the private placement of units announced on September 7, 2010 for gross proceeds of $430,000.
Each unit is comprised of a $10,000 unsecured convertible debenture, maturing on October 13, 2011 (the “Maturity Date”), and 100,000 warrants. Each warrant entitles the holder to acquire one common share of the Company at an exercise price of $0.12 until October 13, 2011. The securities issued in connection with the private placement are subject to a statutory four-month hold period that expires February 14, 2011.
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