Morro Bay Resources announces that it is arranging a non-brokered private placement of 2,000,000 to 30,000,000 units. Each unit will be comprised of one common share of the Company and one common share purchase warrant. Subject to regulatory approval, the units will be offered at a price of $0.05 per unit for gross proceeds of between $100,000 to $1,500,000. Each warrant will be exercisable for one common share of
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