09:45 AM EST - Shoreham Resources Ltd. : announced private placement financing to raise $3 million by the issuance of 12 million units at a price of $0.25 per unit. Each unit will consist of one common share and one common share purchase warrant exercisable at $0.30 for one year. The company noted that the majority of the proceeds from the private placement would be used for continued exploration and development of its Marudi Mountain Project in Guyana. A portion of the funds received will be used for general working capital purposes. Shoreham Resources Ltd.
shares V.SMH are trading down $0.03 at $0.37.
