| CanAm Closes Non-Brokered Private Placement of Common Shares and Flow-Through Shares | |
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Calgary, AB / ACCESSWIRE / December 22, 2014 / CanAm Coal Corp. (COE.V) (RHE.F) ("CanAm" or the "Company") is pleased to announce that it closed a non-brokered
private placement of 23 units (the "Units) at a price of $11,250 per Unit for
total gross proceeds of $258,750. Each Unit is comprised of: (a) 125,000 common
shares of the Company ("Common Shares"); (b) 100,000 common shares of the
Company issued on a "flow-through" basis pursuant to the Income Tax Act
("Flow-Through Shares"); and (c) 86,538 common share purchase warrants
("Warrants"). The Common Shares and Flow-Through Shares are issued at a price of
$0.05 per share and the Flow-Through Shares represent $5,000.00 of the Unit
Price. Each whole Warrant shall entitle the holder to acquire one Common Share
at a price of $0.065 for the period of one year from the closing date. Insiders
participated in the private placement for an amount of $22,500.
A finder's fee of eight percent of the gross proceeds of the
private placement was paid. Additionally, finder's warrants exercisable into
common shares of CanAm were issued in the amount of eight percent of the number
of units sold under this private placement. The finder's warrants will be
exercisable into common shares at a price of $0.05 per common share for a period
of two years from the date of the issuance of the finder's warrants.
Proceeds of the financing will be used to commence exploration
and development of the frac sand property, to create a new frac sand business
unit within the Company and for general corporate purposes.
The completion of the private placement is subject to
regulatory approval including approval of the TSX Venture Exchange.
For Further Information:
CanAm Corporate Office:
Jos De Smedt, CEO Tel: 403.262.3797 Toll Free:
1.877.262.5888 Email: jdesmedt@canamcoal.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain forward-looking
information. All statements included herein, other than statements of historical
fact, is forward-looking information and such information involves various risks
and uncertainties. There can be no assurance that such information will prove to
be accurate, and actual results and future events could differ materially
from those anticipated in such information. A description of assumptions used to
develop such forward-looking information and a description of risk factors that
may cause actual results to differ materially from forward-looking information
can be found in the Company's disclosure documents on the SEDAR website at
www.sedar.com. The Company does not undertake to update any forward-looking
information except in accordance with applicable securities laws. SOURCE: CanAm Coal Corp.
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CanAm Coal Corp
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CODE : COE.V |
ISIN : CA1370981096 |
CUSIP : 137098109 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
CanAm Coal is a coal exploration company based in Canada. CanAm Coal holds various exploration projects in USA. Its main exploration properties are TITANIUM RIDGE and STRONG CREEK in USA. CanAm Coal is listed in Canada. Its market capitalisation is CA$ 1.5 millions as of today (US$ 1.2 millions, € 1.1 millions). Its stock quote reached its highest recent level on July 13, 2007 at CA$ 0.49, and its lowest recent point on August 12, 2015 at CA$ 0.01. CanAm Coal has 304 329 984 shares outstanding. |