SouthernEra sells flow-through shares

Toronto-based SouthernEra Resources (SUF-T) has raised $1.65 million for domestic exploration.

The company issued 733,333 units at $2.25 apiece, or roughly 18% above its current share price. Each unit consists of one flow-through share and half a share-purchase warrant that can be exercised at $3 over the next year. (Shares arising from the warrants hold no tax benefits to the purchaser.)

SouthernEra, better known for its diamond and platinum group metals projects in South Africa, has earmarked the funds for its diamond projects in the Northwest Territories.

Among them is the 70%-held MacKay property, where the company and minority partner Kalahari Resources (KLA-V) are testing for extensions of the promising NW dyke on the adjoining Snap Lake property of De Beers Consolidated Mines (DBRSY-Q).

Print

Be the first to comment on "SouthernEra sells flow-through shares"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close