Cancor Mines Inc. (CNSX: KCR) has announced a private placement consisting of a maximum of 20,000,000 units. Each unit would be issued at a price of $0.05 per unit to raise up to $1 million.
Each unit will contain 1 common share of Cancor, 1/2 of a 2010 common share purchase warrant and 1/2 of a 2011 common share purchase warrant. Each whole 2010 warrant enables its holder to purchase 1 common share of Cancor for $0.10 to the date of September 30, 2010. Each whole 2011 warrant enables its holder to acquire 1 common share of Cancor for $0.15 until September 30, 2011.
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About Cancor Mines Inc.
Cancor Mines Inc. is a Canadian mining company involved in the exploration and development of properties with high potential for precious or base metals. In addition to its Quebec properties, the Company holds a 100% interest in four Algerian properties which are prospective for gold.
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