By Laura Lutz
Des Moines, Aug. 16 - Copper Fox Metals Inc. closed its private placement of units and flow-through shares for C$9,602,100, down from the C$10 million size announced at pricing on July 17.
The company sold 5,772,400 flow-through shares at C$1.25 each and 2,169,635 units at C$1.10 each.
The units each consist of one non flow-through share and one half-share warrant. Each whole warrant is exercisable for one non flow-through share at C$1.60 for 18 months.
Expiry of the warrants may be accelerated to 30 days if the closing price of the company's shares is at least C$1.75 for 15 consecutive trading days.
Evergreen Capital Partners Inc. acted as agent for the deal.
When the offering priced, it was expected to include no more than 4.8 million flow-through shares and any number of units, for a total deal size of up to C$10 million. Up to C$1.5 million of the placement was expected to be non-brokered.
Evergreen had an over-allotment option for up to 15% of the deal size.
Proceeds will be used for a feasibility study and for general corporate purposes.
Copper Fox is a copper mining company based in Calgary, Alta.
| Issuer: | Copper Fox Metals Inc.
|
| Issue: | Flow-through shares; units of one non flow-through share and one half-share non flow-through warrant
|
| Amount: | C$9,602,100
|
| Agent: | Evergreen Capital Partners Inc.
|
| Pricing date: | July 17
|
| Settlement date: | Aug. 16
|
| Stock symbol: | TSX Venture: CUU
|
| Stock price: | C$1.22 at close July 16
|
| Stock price: | C$0.76 at close Aug. 15
|
|
|
| Flow-through shares
|
| Shares: | 5,772,400
|
| Price: | C$1.25
|
| Warrants: | No
|
|
|
| Units
|
| Units: | 2,169,635
|
| Price: | C$1.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.60
|
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