C2C Inc.: C2C: Proposed Financing
C2C: Proposed Financing
MONTREAL, QUEBEC — (MARKET WIRE) — January 12, 2007 — C2C Inc.(TSX VENTURE: CCN), is pleased to announce that it has signed a letter of engagement with Canaccord Capital Corporation. Canaccord will offer to sell on a commercially
reasonable basis up to 7,143,000 Units of C2C (the “Units”) at $0.35 per Unit, for aggregate gross proceeds of $2,500,050.
Each Unit shall consist of one common share in the company and one whole common share purchase warrant exercisable at a price of $0.50 per share for a period of twelve months from closing.
The company will grant the agent an option to purchase additional Units to raise additional gross proceeds of up to $1,015,000 (2,900,000 units), exercisable 48 hours prior to closing.
The proceeds from this offering will be used to fund the acquisition of precious metals properties in Ecuador and Peru and for general working capital purposes.
In connection with the private placement, the agent will receive a commission equal to 7.5% of the gross proceeds raised in cash or in Units at the option of the Agent, and broker warrants equal to 10% of the Units sold under the offering. Each Agent’s Unit will be exercisable for a period of 18 months from closing at a price of $0.50 per share and will have the same terms as the Units.
The offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
45 M shares outstanding
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
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