Sunset Cove Mining (TSXV:SSM) closed two tranches of a private placement in the amount of $99,700 as of October 11, 2013.
As quoted in the press release:
A total of 3,323,334 common shares were issued at a price of $0.03 and each share was accompanied by one common share purchase warrant each whole warrant provides the holder the right to purchase one (1) additional share for $0.12per Share. The warrants expire in 18 months from the closing and are subject to an “Acceleration Right” in favor of the Corporation. Should the shares of the Company close at $0.12 or higher for five (5) consecutive days, the expiry of the warrants will accelerate and expiry will be twenty (20) days from issuance of a news release by the Corporation announcing the trigger of the acceleration right.