Mr. Craig Robson reports
CAITERRA INTERNATIONAL ENERGY ANNOUNCES CLOSING NON-BROKERED PRIVATE PLACEMENT
Caiterra International Energy Corp. has completed a non-brokered private placement financing of 31.82 million units of the company at a price of 10 cents per unit for total proceeds of $3,182,000. Each unit comprises one common share of the company and one common share purchase warrant. Each common share purchase warrant is exercisable into one common share of the company at an exercise price of 15 cents per share for two years from the date of issuance.
Wei Wu, a director of the company, along with his spouse and his mother-in-law, subscribed for an aggregate of 5.02 million units, and Xiang Pu, a director of the company, subscribed for two million units.
The company is expected to pay a finder's fee of $148,800 to one finder in connection with the financing.
All securities issued in connection with the financing are subject to a hold period expiring on Nov. 9, 2014.
We seek Safe Harbor.
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