Canadian Orebodies Inc Completes $5.75 Million Private Placement
August 18, 2016
DeMarco Allan LLP acts for Canadian Orebodies Inc. in its non-brokered private placement of units. The financing raised gross proceeds of $5,757,480 through the sale of 95,957,999 Units. Each Unit is comprised of one common share of the Company (each, a "Common Share") and one-half of one Common Share purchase warrant of the Company (each such whole Common Share purchase warrant, a "Warrant"). Each Warrant will be exercisable into one Common Share for a period of 18 months from closing at an exercise price of $0.14 per share beginning on the date of the closing of the Financing. The expiry date of the Warrants may be accelerated, at the option of the Company in certain circumstances.