Dorato Resources Lands $5 Million Private Placement

Dorato Resources Inc. has cut a deal with Canaccord for a private placement of 10 million units, at 50 cents each, for gross proceeds of $5 million. Each unit contains one common share and half a purchase warrant. The exercise price of the warrants is 65 cents, and they last for two years. They also have an early-expiry provision; the news release spells out the conditions.. Canaccord was also granted a 20% over-allotment option, which is good for an extra million dollars if taken up on.

This item was released yesterday before trading began. At market's close, Dorato ended up unchanged at 54 cents on moderate-to-heavy volume.

The company's Google Finance web page is here.

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