Claim Post Resources Inc. extended its nonbrokered private placement of 40 million common shares and flow-through shares. The common shares are priced at five cents each, and the flow through shares are priced at six cents each, the company said Aug. 10.
The offering is being made under Canada’s Income Tax Act. The gross proceeds will total CA$2 million. The offer was made using the existing shareholder exemption and the accredited investor exemptions and others, the company said.
The proceeds will support a 2,000-meter drilling program in the Seymourville frack sand project, complete the design of a processing facility, complete API test work and support general working capital.
All issued securities are subject to a four-month hold period from the closing date, and the offer is subject to TSX Venture Exchange approval, the company added.
Claim Post Resources Inc. is based in Toronto.
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