Comstate arranges special warrant private placement

A private placement of 5.5 million special warrants at $1.05 each has been arranged by Comstate Resources (TSE).

Each warrant will be exchangeable for one common share of Comstate at no additional cost.

The issue is subject to regulatory approval and Comstate acquiring at least 90% of the issued and outstanding shares of Comaplex Resources International (TSE).

Proceeds will go toward financing the acquisition of Comaplex.