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Gentor Resources Inc.
Gentor Resources, Inc. Closes Us $5,250,000 Private Placement Financing
November 27th, 2010
GENTOR RESOURCES, INC. ("Gentor" or the "Company") (OTCBB - "GNTO.OB") is pleased to announce that it has concluded the issue and sale of 7,000,000 Units (as hereafter described) to a limited number of U.S. and non-U.S persons for total gross proceeds of US$5,250,000. Each Unit, which was sold at a purchase price of US$0.75 per Unit, consisted of one (1) share of common stock of the Company (the "Common Stock") and one (1) warrant (a
"Warrant") to purchase one (1) share of Common Stock. Each Warrant is exercisable for a period of 12 months from the date of issuance at an exercise price of US$0.90 per share of Common Stock.
The Company anticipates using...
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Source: Investment Weekly News (2010-11-27)