CZR Resources Completes share purchase plan
- CZR Resources (CZR) completes a share purchase plan (SPP) to raise $283,000 instead of the intended $500,000
- The SPP was announced last month when CZR received firm commitments for a $7 million placement
- The first phase issued 347,826,100 shares to investors at an issue price of 1.15 cents to raise $4 million and was completed on June 15
- While it planned to raise up to $500,000, the board has resolved not to issue any of the $217,000 shortfall in the SPP
- CZR will issue and allocate 24.6 million shares at 1.15 cents to raise $283,000
- Company shares closed steady at 1.1 cents apiece
