GoldTrain Resources Inc. (CNSX: GT) has announced a private placement of approximately 3,300,000 flow through (FT) units for $0.10 per unit resulting in aggregate gross proceeds of $330,000. Each unit contains 1 FT share and 1 FT share purchase warrant. Each warrant enables its holder to purchase 1 non-FT common share for $0.12 at any time within 6 months following the issuance of the units, for $0.15 between 6-12 months, or for $0.20 at any time thereafter until the expiration date which is 2 years following the issuance of the units.
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The company plans to use its gross proceeds for exploration work on its Canadian properties. They may pay finder's fees of up to 8% of the proceeds from the offering in either cash or in common shares of GoldTrain along with up to 10% in finder's warrants.
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