In order to increase this percentage participation, Pemberton will proceed with a private placement for up to $500,000 through the sale of both non-flow through and flow through units priced at five cents per unit.
Each non flow through unit will consist of one share and one non flow through share purchase warrant, each warrant entitling the holder to purchase one additional share for a period of two years at 10 cents per share.
According to Pemberton, each flow through unit will consist of one flow-through share and one non-flow-through warrant entitling the holder to purchase one additional non-flow-through share for a period of two years from the closing date at an exercise price of 10 cents per share. The company continues negotiations with its joint venture partners on this drill program.
