CALGARY, Indonesia Today ??? Challenger Deep Resources Ltd is offering $800,000 private placement to support its Indonesian coal project.
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Challenger offers up to 2.67 million units at price of CA$0.3 per unit. Each unit comprises one common share and one share warrant. Each warrant entitles the holder to purchase additional share at CA$0.40 for two years period.
The proceeds will be used for permitting of Challenger???s Tabang Coal Project in East Kalimantan for the investigation and acquisitions of additional Indonesian coal exploration project and for general purposes.
Challenger Deep Resources Corp. is an exploration company focused on the Indonesian coal industry. Challenger’s business plan is to acquire, explore and to bring its viable coal projects into production. Challenger has an experienced Indonesian exploration and mining team with offices in Calgary, Singapore and Jakarta. (bintang@theindonesiatoday.com)