A planned rights offering by Channel Resources (VSE) will enable the junior to continue exploring its gold concessions in Burkina Faso, West Africa.
Channel, which has 19 million shares outstanding, will issue shareholders one right for each share held. Ten rights will allow the holder to subscribe for one share. Only residents of British Columbia, Alberta and Ontario will be able to exercise the rights.
The record date for the rights issue, as well as the exercise price of the rights, has yet to be determined.
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