VANCOUVER, British Columbia, Nov. 30, 2017 (GLOBE NEWSWIRE) -- Cameo Resources Corp. (TSX Venture:CRU) (OTC:SIDNF) (the “Company” or “Cameo Resources”) is pleased to announce that it intends to conduct a non-brokered private placement to raise gross proceeds of up to $2,000,000 (the “Financing”) by way of the issuance of up to 2,500,000 common share units at a price of $0.80 per unit (the “Units”).
Each Unit under the Financing will consist of one common share and one half of a common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Company at a price of $1.50 per common share for a two year period from the closing date.
Net proceeds of the Financing will be used to advance the Company’s exploration projects in Canada and for general working capital purposes.
Shares issued pursuant to the Financing will be subject to a four-month hold period pursuant to applicable securities laws of Canada.
The Corporation may pay cash finder's fees on subscriptions under the Financing equal to 7% and issue finder’s fee warrants equal to 7% on subscriptions under the Financing exercisable at a price of $1.50 for a two year period following closing.
