TransactionsSearch Minerals Inc. Completes $6.125 Million Non-Brokered Private PlacementPublished: 03/02/2011 By Mark T. Bennett, Nicole Washington On February 25, 2011, Search Minerals Inc. closed the second tranche of a non-brokered private placement, of 13,611,112 units at a price of $0.45 per unit for gross proceeds of $6,125,000.40. Each unit is comprised of one common share and one transferable common share purchase warrant (“Warrants”) of the Company. Each Warrant entitles the holder to acquire one common share until February 25, 2014 at a price of $0.70 per share the first year, $0.80 during the second year and $0.90 during the third year. Cassels Brock acted for the Canadian subscribers with a team that included Mark Bennett (Securities and Mining) and Nicole Washington (Business Law). Search Minerals Inc. funds ideas or concepts in the mineral exploration or metallurgical fields. Search Minerals Inc’s wholly owned subsidiary, Alterra Resources Inc., is a Canadian mineral exploration company. |