Spey Resources Corp.: Spey Resources Announces Private Placement
Spey Resources Corp. (
CSE: SPEY) (OTC: SPEYF) ( Spey or the Company ) is pleased to announce that it has engaged Ascenta Finance Corp. to conduct a private placement financing for gross proceeds of up to $2,000,000 through the issuance of up to 8,000,000 Units (each, a Unit ) priced at $0.25. Each Unit will be comprised of one common share and one transferable common share purchase warrant (a Warrant ). Each Warrant will be exercisable for one common share at $0.40 for a period of two years from the date of issuance. Under the terms of the Warrants, Spey will be permitted to accelerate their expiry date if the volume weighted average trading price of the Company s common shares listed on the Canadian Securities Exchange ( CSE ) is at or above $0.90 for ten consecutive trading days.