Proceeds from a private placement, planned by Minorca Resources (VSE), will finance exploration of properties in Mexico and Quebec.
The placement involves 750,000 units, each of which will consist of one common share and one warrant, at $1 per unit. Each warrant will entitle the holder to subscribe for one additional common share at $1.30 per share within a 12-month period.
The units will be offered only to residents of Quebec and British Columbia. Quebecers will be offered up to $100,000 of flow-through shares as part of the placement.
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