Adira, Rainbow Resources, Canadian Orebodies, Cadillac Ventures news briefs

November 21, 2012, Wednesday from SMR
Adira has filed a draft prospectus with the Israeli Securities Authorities in connection with the Company’s previously announced application to list its securities on the Tel Aviv Stock Exchange. (2) Adira has also filed a preliminary short-form prospectus with the securities regulatory authorities in Ontario, British Columbia and Alberta in connection with a fully marketed best-efforts offering of units through a syndicate of agents. The offering may also be made in other jurisdictions outside Canada, including the USA and Israel.

Rainbow Resources has completed 12 diamond drill holes over two separate sections (about 3,300 feet apart) at the Company’s Gold Viking property in the Slocan Mining District of southeast British Columbia. The Company is awaiting results from the holes in order to plan a step-out drilling strategy. (2) The Company has also completed the first two holes of a Phase 1 reverse circulation drill program at the Jewel Ridge property near Eureka, Nevada. (3) Rainbow is awaiting assay results from the recently-completed 15-hole drill program at the International silver property in the West Kootenay area of B.C.

Canadian Orebodies has completed its summer drilling program at the Haig Inlet iron project on the Belcher Islands in Nunavut. A total of 6,469.6 metres were drilled in 38 holes over four separate target areas (Haig West, Haig South, Haig North Extension, and Kihl Bay. An updated NI 43-101 compliant resource estimate is expected by Q1/2013. (2) The Company has extended the expiry date of 6,325,666 common share purchase warrants issued as part of a private placement completed November 19, 2010. The expiry date has been extended by one year to November 19, 2013, with the exercise price remaining unchanged at $0.18.

Cadillac Ventures has entered into an agreement for a private placement financing of units at $0.09 per unit and flow-through units at $0.10 per flow-through unit, for aggregate gross proceeds of up to $3.0 million. The proceeds are to be used for exploration and development of the Company’s Canadian properties.

 

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