Zone Resources Inc. Announces Private Placementadmin
Zone Resources Inc. would like to announce that it has arranged a non-brokered private placement of up to 4,000,000 units at a price of $0.085 per unit for total proceeds of up to $340,000 subject to the approval of the TSX Venture Exchange.
Up to 4,000,000 units will be issued as non flow-through units consisting of one common share and one full warrant. One full warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.12 per share for the first year and at a price of $0.15 through to completion of the second year.
The proceeds of the private placement will be used for general working capital, oil and gas exploration and other potential resource sector opportunities.