Channel Resources Ltd. (TSX VENTURE:CHU) reported that the company has closed the final tranche of its non-brokered private placement of units announced on December 2, 2009.
The press release is quoted as saying:
The proceeds of the private placement will be used to fund exploration and pre-development work on its properties, primarily the Fox Creek Lithium / Potash Brine Project located in Alberta, as well as for corporate development and working capital purposes.
