Network Exploration Arranges Private Placement to Explore in White Gold District, Yukon


Network Exploration Ltd. will be conducting a private placement to raise gross proceeds of up to $600,000. Under the terms of the private placement, the company will offer a maximum of 12 million units at a price of five cents per unit. Two units will consist of one common share of the company, one flow-through common share of the company and two non-flow-through share purchase warrants where each warrant will allow the subscriber to purchase one additional common share of the company at a price of 10 cents for a period of one year following the close of the private placement. Units issued will be subject to a four-month hold period following the closing of the private placement. It is contemplated that the portion of the investment represented by the flow-through shares will entitle the holders to a 100-per-cent CEE tax deduction as set forth under the Income Tax Act (Canada). Proceeds from this offering will be used for exploration at the company’s recently acquired Yukon property, working capital and general corporate purposes. The private placement and finder’s fee, if applicable, are subject to the acceptance by the TSX Venture Exchange.

Be Sociable, Share!

, ,

Comments are closed.