- Financing Increased to $1,630,000
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/24/10 -- Pitchstone Exploration Ltd. (TSX VENTURE: PXP) ('Pitchstone' or the 'Company') has closed a non-brokered private placement of 3,260,000 'flow-through' common shares at $0.50 per share to raise gross proceeds of $1,630,000. The amount raised was increased from the previously announced $1,500,000. A cash finder's fee of $70,000 plus finder's warrants equal to 5% of the common shares subscribed for has been paid in connection with part of the private placement. The finder's warrants will be exercisable at $0.50 for a period of one year. All securities issued in the private placement will be subject to a hold period expiring on March 23, 2011.
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