Cove Energy Corp. says it has renegotiated a flow-through share financing with First Exploration Fund 1987 and Co., Ltd. Partnership, doubling the amount of the original funding.
President Richard McRae says the renegotiated financing will be for $1 million, at a price of 20% above the 20-day average trading price beginning Aug 4, and ending Aug 31.
The initial agreement provided $500,000 in flow-through funding.
Mr McRae says the renegotiation followed acquisition by the company of the Alpine mine, a former high grade producer in the Nelson area of B.C.
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