Cimarron Minerals (CIU-V) has amended and re-priced a previously announced brokered private placement. The financing now consists of 1.4 million special warrants at 25cents each, for gross proceeds of $350,000.
Each special warrant is exchangeable for one share and a half warrant, with each full warrant entitling the purchase of an additional share at 32cents over two years. Canaccord Capital will remain as agent.
Proceeds will be used to drill targets on the Schell Ranch volcanogenic massive sulphide property in central California.
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