Cadman Resources Inc. announced taht it has received CAD 0.22 million in funding.
The company may pay a finder's fee consisting of a cash fee in an amount of up to 8% of the proceeds raised by the finder and a number of finder's warrants entitling the holder to purchase common shares to a maximum number equal to 8% of the number of both flow-through units and units placed through the finder as part of the offering. The transaction may include participation from certain directors and employees of the company.
On January 7, 2013, Cadman Resources Inc. closed the transaction. The company has issued 2,003,333 flow-through units for CAD 120,199 and 2,090,000 hard dollar units for CAD 104,500. The company has received gross proceeds of CAD 224,699. The company paid a finder's fee consisting of cash and 136,266 finder's warrants. Certain directors and employees of the company participated for up to 30% of the offering.