This refers to the closing of a PP
Subsequent to July 31, 2012, the Company announced closing of a financing by an insider. The financing consisted of the issuance of 3,500,000 units at a purchase price of $1.15 per unit, for aggregate net proceeds of $4,025,000
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The following PP mentioned in the Results NR is currently open and yet to have an NR announcing closure
Also subsequent to July 31, 2012, the Company announced that it intends to complete a non-brokered private placement to raise up to CDN $4,000,000.
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Additional funds **will be required** to complete the current planned activities and the Company may need additional equity in order to develop the project (Refer to Teck Earn Back Option).
I believe this line farther down in the results NR is indicating that we are going to see yet another placement.
I hate that there is more dilution coming. If this were a poker game, I would willingly admit that I'm pot-committed. I'm not going anywhere. I just wish I had more chips to throw in the pot.
It's early and I haven't finished my coffee, so I'm hoping that some "more-awake" minds will show me how I misread the information.
Hayz