21:13:00 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Gentor Resources Inc
Symbol GNT
Shares Issued 72,253,840
Close 2014-08-27 C$ 0.10
Market Cap C$ 7,225,384
Recent Sedar Documents

Gentor closes private placement for $180,000

2014-08-27 22:25 ET - News Release

Mr. Arnold Kondrat reports

GENTOR CLOSES PRIVATE PLACEMENT FINANCING

Further to the Aug. 25, 2014, press release, Gentor Resources Inc. has closed a non-brokered private placement of three million units of the company at a price of six cents per unit for proceeds to the company of $180,000. Each unit is composed of one common share of the company and one-half of one warrant of the company, with each full warrant entitling the holder to purchase one common share of the company at a price of 7.5 cents for a period of two years.

The company intends to use the proceeds from this financing for general corporate purposes.

Arnold T. Kondrat was the purchaser of all of the units. Mr. Kondrat is chief executive officer, president and a director of the company and, taking into account the units acquired under the financing, now holds 24,697,500 (or 32.82 per cent) of the outstanding common shares of the company, 1.5 million warrants and an additional 7.5 million common share purchase warrants of the company, with each such additional warrant entitling the holder to purchase one common share of the company at a price of seven cents until January, 2016.

The said shares and warrants issued by the company under the financing are subject to a four-month hold period and the resale rules of applicable securities legislation.

© 2024 Canjex Publishing Ltd. All rights reserved.