Castle increases private placement units
by Jo Black
Castle Resources Inc. has increased its previously announced flow-through placement of 3,750,000 Flow-Through Units of Castle to 4,857,143 Flow-Through Units at $0.35 per Flow-Through Unit.
Each Flow-Through Unit consists of one common share to be issued on a “flow-through” basis under the Income Tax Act (Canada) and one half of one common share purchase warrant of Castle (the Flow-Through Unit Warrants). Each whole Flow-Through Unit Warrant has a term of 18 months and will entitle the holder to purchase one Common Share at a price of $0.60 per share during the Term.
Castle also announces that is has increased its second private placement offering of up to 5,000,000 units of Castle (the “Units”) at a price of $0.30 per Unit to 6,666,667 Units. D & D Securities Company will act as agent for the Private Placement.
Each Unit consists of one Common Share and one half of one Common Share purchase unit. Each whole Unit Warrant has a term of 18 months and will entitle the holder to purchase one Common Share at a price of $0.45 per share during the 18 month term.
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