Quia Resources to raise up to $3 mln in financing
Quia Resources said Tuesday it plans to raise up to $3.0 million in an offering to fund exploration efforts in Colombia.
The financing will consist of up to 15 million units, at a price of 20 cents each.
Each unit consists of one common share of the company and one half of one warrant, with each full warrant entitling the holder to acquire one common share of the company at a price of 30 cents for a period of two years from the closing date.
The warrants are subject to an acceleration right at the option of the company, Quia said.
The proceeds of the offering will be used to fund exploration at the company's San Lucas property in Colombia, to pursue acquisitions and for general working capital purposes.
A finder's fee and finder's warrants will also be distributed in connection with the financing.
Quia Resources is a gold exploration company focused in Colombia. The San Lucas gold belt is among the least explored and most prospective gold belts in Colombia.
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