Skeleton Coast Uranium to Raise up to CA$5 Million Via Non-Brokered Private Placement
Skeleton Coast Uranium (SKEL.V) plans to raise gross proceeds of up to CA$5 million, by offering up to around 33.3 million units by way of non-brokered private placement at a price of CA$0.15 each, it said Monday.Each unit will be made up of a share and one-half of a two-year warrant, with each whole warrant entitling the holder to buy an additional share at a price of CA$0.20, said the company.The company expects to use the proceeds for continued exploration and development work in Namibia and for general working capital purposes, it added.The offering remains subject to the approval of the TSX Venture Exchange, added Skeleton Coast Uranium.The company's shares were last seen down CA$0.01, or 7.1%, to CA$0.13 on the TSX Venture Exchange.Price: $0.13, Change: $-0.01, Percent Change: -7.14%
