The firm said proceeds of the private placement will be used to develop the company's Quebec properties and for working capital
() (OTCMKTS:CZSVF) said Friday that it has raised C$231,000 in a private placement aimed at developing the company's Quebec properties.
The mining firm said in a statement it had issued 3.85 million units at a price of C$0.06, with each unit consisting of one common share and one warrant. Each whole warrant is exercisable into an additional common share at an exercise price of $0.10 per share for two years.
The securities have been issued with the required hold period of four months plus one day.
Lac Gueret South is located in Cote Nord, eastern Quebec, and comprises 288 claims, which cover a total area of 15,552 hectares.
Shares of Berkwood were at C$0.05 in Thursday’s Canadian trading.
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