VSE-listed Norcan Resources has announced a private placement of 500,000 units at 60 cents each.
A unit consists of one share and one warrant that entitles the holder to buy one additional share for 60 cents in the first year and 70 cents in the second. The placement was negotiated with Canaccord Capital. Additional private financing of up to $2 million is being arranged with IBK Capital. Proceeds from both placements will be used to explore and develop the Trinidad gold property in Venezuela’s Bolivar state.
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