Mr. Songning Shen reports
CAITERRA INTERNATIONAL ENERGY CORPORATION ANNOUNCES CLOSING OF THIRD TRANCHE OF PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT FINANCING
Caiterra International Energy Corp. has closed the third tranche of its previously announced private placement financing of common and flow-through shares, and has issued a total of 240,000 common shares of the company on a flow-through basis, pursuant to the Income Tax Act (Canada), at a price of 25 cents per flow-through share for total proceeds of $60,000.
The company will renounce eligible Canadian exploration expenses in an amount equal to the total gross proceeds to the subscribers. The net proceeds from the sale of the flow-through shares will be used to finance the company's exploration program in Northern Alberta, which will qualify as Canadian exploration expenses, within the meaning of the Income Tax Act (Canada).
The offering has received conditional approval from the TSX Venture Exchange. The flow-through shares have been issued subject to a four-month hold period.
We seek Safe Harbor.
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