A private placement will raise up to $6.97 million for International Tournigan (VSE).
The placement includes up to 3.1 million special warrants at $2.25 each, with each special warrant convertible at no cost into one unit consisting of a share and a share purchase warrant. Two warrants entitle the holder to buy an additional share at $2.65 for one year increasing to $3.35 for the next six months.
Proceeds for the placement will be used to fund exploration work on the company’s property interests in Ghana, Mali and the Stewart area of Northern British Columbia.
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