trending Market Intelligence /marketintelligence/en/news-insights/trending/c1mOv_rDA0EWcTUIKJrZ5Q2 content esgSubNav
In This List

Para Resources seeks to raise up to C$5.0M in private placement

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch

Blog

Insight Weekly: CEO pay jumps; yield curve inversion deepens; wind giants lift turbine prices

Blog

Watch Nickel Market Outlook Complex Demand Supply Fundamentals


Para Resources seeks to raise up to C$5.0M in private placement

Para Resources Inc. said Dec. 30, 2019, that it is aiming to raise up to C$5.0 million through a nonbrokered private placement, proceeds of which will be used for general corporate and working capital purposes, and work related to the company's projects.

The placement will consist of up to 50 million units at 10 Canadian cents apiece.

Each unit will comprise 1 common share and 1 common share purchase warrant. Each warrant entitles the holder to acquire 1 common share of Para for a period of 24 months at a price of 15 Canadian cents, subject to an accelerated expiry if the closing trading price of the company's shares is greater than 30 Canadian cents apiece for a period of 10 consecutive trading days.

In November 2019, the company announced that it closed the fourth and final tranche of a nonbrokered private placement to raise a total of C$10.8 million, after outlining plans to raise C$10 million in mid-September.