By Sheri Kasprzak
New York, May 31 - Consolidated Thompson-Lundmark Gold Mines Ltd. has increased the size of its previously announced private placement of special warrants to C$40,012,500 from C$35,062,500.
The company now intends to sell 14.55 million special warrants at C$2.75 each.
Each special warrant is exchangeable for one common share once a prospectus covering the underlying shares is declared effective.
A syndicate of underwriters led by Orion Securities Inc. and including Canaccord Capital Corp., CIBC World Markets Inc. and GMP Securities LP has a greenshoe for up to 1,825,000 additional special warrants.
The offering, which priced on May 19 for 12.75 million special warrants, is scheduled to close June 9.
Proceeds will be used for development on the company's Bloom Lake iron ore deposit in Quebec as well as for general corporate purposes.
Toronto-based Consolidated is a gold exploration company.
| Issuer: | Consolidated Thompson-Lundmark Gold Mines Ltd.
|
| Issue: | Special warrants exchangeable for common stock
|
| Amount: | C$40,012,500
|
| Special warrants: | 14.55 million
|
| Greenshoe: | For 1,825,000 special warrants
|
| Price: | C$2.75
|
| Warrants: | No
|
| Underwriters: | Orion Securities Inc. (lead), Canaccord Capital Corp., CIBC World Markets Inc. and GMP Securities LP
|
| Pricing date: | May 19
|
| Upsized: | May 31
|
| Settlement date: | June 9
|
| Stock symbol: | TSX Venture: CLM
|
| Stock price: | C$2.85 at close May 19
|
| Stock price: | C$3.00 at close May 30
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