Subject to regulatory approval, Canplats Resources (CPQ-V) will issue 450,000 shares to raise $82,500 for a drill program at its Voltaire-Johnspine property, northwestern Ontario.
The private placement consists of 300,000 flow-through shares and 150,000 common shares priced at 20 apiece. It follows a similar one that was completed earlier this year and which consisted of 900,000 shares priced at 20 apiece.
Drilling will focus on several geophysical anomalies that were detected during a recent airborne magnetometer survey of the property. The anomalies are thought to reflect mafic to ultramafic intrusive bodies that may be mineralized in sulphides.
Canplats has also received approval from exchange authorities to extend the expiry date of 970,000 B-series warrants that were part of its Initial Public Offering. The warrants can now be exchanged into shares, at 30 each, until September 30.
Canplats is exploring 14 properties, including Voltaire-Johnspine, in the Lake Nipigon area, north of Thunder Bay. All are considered prospective for polymetallic massive sulphide mineralization.
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