Canyon Resources Corporation (AMEX:CAU) Gears Up for 2007 with $5M Financing
Canyon Resources Corporation (Amex: CAU) has been busy in the financing department of late with its closing of a private placement with a group of accredited investors in the aggregate principal amount of $4.95 million with net proceeds to the company of approximately $4.7 million.The private placement consisted of the sale of approximately 8.82 million shares of common stock, 2.21 million Series A Warrants with an exercise price of $0.640 and a term of one year from registration effectiveness, and 6.62 million Series B Warrants with an exercise price of $0.704 and a term of four years from closing. The…