Cogitore Resources Inc. Announces Private Placement Financing
Cogitore Resources Inc. (the “Company”) (WOO, TSX-V) is pleased to announce that it has raised $690,000 by way of a non-brokered private placement of flow-through common shares and common shares. $600,000 of the placement was raised through the issuance of flow-through common shares, and $90,000 was raised through the issuance of common shares. The flow-through common shares were priced at $0.75 per flow-through common share and the common shares were priced at $0.60 per common share. No commissions were paid by the Company as part of this offering.
The flow-through common shares and common shares issued at closing are subject to resale restrictions pursuant to applicable securities laws requirements and notably to a hold period of four months plus one day from the closing date.
The proceeds of the flow-through portion of the financing will be used to fund the Company’s 2008 exploration program, while the non-flow-through portion of the financing will be used for the Company’s 2008 exploration program and for general corporate purposes.
The Company now has 31,898,521 common shares issued and outstanding.
The Company has developed a strategic focus on base metal exploration in prospective areas that also feature infrastructure favourable for mining development. Accordingly, it will focus its work in the Abitibi Belt of Quebec and Ontario, and in the Central Belt of Newfoundland.
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