Crowflight Minerals Inc. announced it has received $30 million of private placement proceeds from the financing that was announced on Jan. 27, 2011.
The company has signed subscriptions for 600 million Units at a subscription price of $0.05.
Each Unit consists of one common share and one half of one share purchase warrant.
The whole warrant entitles the holder to acquire one additional common share for a period of two years at a price of $0.10.
“We are very pleased to complete this financing and see the recapitalization of Crowflight,” said Kevin Zhu in a press release, director of interim CEO of the company.
No investor in the financing can hold more than 10 per cent of the company's $1.24 billion shares on closing.
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