Private placement of $800 000
Montreal, February 22nd, 2013 - Ressources Minières Pro-Or Inc. (POI) announce that it is currently completing a private placement for up to $800 000. This private placement will be completed with ‘‘Accredited Investors” and is being offered in units of $5,000 as follows:
- 50,000 Class “A” shares at a price of $0.10 per share and;
- 50,000 warrants to purchase Class (A) shares of the Company at $0.15 for a 12 month period. The warrants will be subject to an Accelerator Clause by which the warrant expiry date can be shortened at the discretion of the Corporation if the share price closes on the Exchange at $0.25 or more for a period of more than twenty (20) consecutive trading days. In such case, the new expiry date will become the thirtieth (30) day following a formal written notification by the Corporation. This notice cannot be issued during the first four (4) month following the closing of this placement which corresponds to the regulatory hold period that affects all Private Placements.
The Private Placement proceeds will be used productions purposes at St-Augustin plant, for related activities, and for the working capital of the Corporation.
Shares issued pursuant to the offering will be subject to a four-month hold period.
No finders’ fee will be payable on the transaction, which is subject to regulatory approval.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release
Sylvain Boulanger, President
Phone: (514) 849-7336
Fax: (514) 849-9260
Renelle Roy, Executive-secretary