Chase Resource (VSE) has received $2.75 million following the exercise of certain series A warrants and non-transferable agents warrants.
About 1.5 million warrants were originally issued as part of a public unit offering in July, 1992. Of the total, 954,722 warrants were exercised at $2.38 each, leaving a balance of 540,278 outstanding which are now exercisable at $3.13 per share to their expiry on July 18, 1994. A total of 202,300 agent warrants were exercised, leaving a further 18,700 outstanding on the same terms as the series A warrants.
Chase now has 10.5 million shares outstanding and $6.8 million in working capital.
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