Investor Roland Butler to purchase 2 million units at C$2.19 apiece
By Devika Patel
Knoxville, Tenn., Jan. 25 - Callinan Mines Ltd. said it amended the terms of a private placement of units. The deal will sell C$4.38 million in units to Roland Butler and priced for C$4.04 million on Oct. 25.
The company will sell 2 million units at C$2.19 apiece. The units of one common share and one warrant were originally priced at C$2.02 each. Each warrant will be exercisable at C$2.58 for five years. The strike price reflects an 8.4% premium to C$2.38, the Oct. 22 closing share price.
Callinan is a base metals exploration company based in Vancouver, B.C., with mineral properties in Manitoba and Saskatchewan.
| Issuer: | Callinan Mines Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$4.38 million
|
| Units: | 2 million
|
| Price: | C$2.19
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$2.58
|
| Investor: | Roland Butler
|
| Pricing date: | Oct. 25
|
| Amended: | Jan. 25
|
| Stock symbol: | TSX Venture: CAA
|
| Stock price: | C$2.42 at close Oct. 25
|
| Market capitalization: | C$125.93 million
|
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