Canadian Chrome Company Seeks $8.4 Million in 1.4 Billion-Unit Placement, Names VP Capital Markets
Updated
Updated · Yahoo Finance · Aug 20
Canadian Chrome Company Seeks $8.4 Million in 1.4 Billion-Unit Placement, Names VP Capital Markets
1 articles · Updated · Yahoo Finance · Aug 20
Summary
$8.4 million is the target of a proposed private placement by Canadian Chrome Company, which plans to sell up to 1.4 billion units at $0.006 each.
Each unit includes one subordinate voting share and 0.01 of a warrant, with each full warrant exercisable at $1.00 for one multiple voting share for up to five years or until shortly after a change of control.
The company said proceeds will fund mineral-interest acquisitions and the exploration, evaluation and development of chromite and other base-metal deposits, along with overhead, operating costs and offering expenses.
CCC also appointed Michael Minas as vice president of capital markets as it moves to raise funds from accredited investors and other buyers eligible under prospectus exemptions.