By Laura Lutz
Des Moines, Feb. 13 - Calypso Acquisition Corp. upsized its previously announced private placements of units to C$10.01 million from C$7.8 million.
The company now intends to complete a brokered placement of 10 million units at C$0.65 each and a non-brokered placement of 5.4 million units at the same price.
Each unit will consist of one share and one warrant with each warrant exercisable at C$0.85 for two years.
Expiry of the warrants may be accelerated to 30 days if the closing price of the company's shares is at least C$1.70 for 30 consecutive trading days at any time more than four months after the warrants are issued.
PowerOne Capital Markets Ltd. will act as agent for the brokered deal.
The deals priced on Monday as a brokered offering of up to 8 million units and a non-brokered offering of 4 million units.
Proceeds will be used for exploration, drilling and working capital.
Calypso is a Vancouver, B.C.-based uranium exploration and development company.
Issuer: | Calypso Acquisition Corp.
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Issue: | Units of one share and one warrant
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Amount: | C$10.01 million
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Units: | 15.4 million
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Price: | C$0.65
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Warrants: | One per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.85
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Agent: | PowerOne Capital Markets Ltd. (for 10 million units); non-brokered (for 5.4 million units)
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Pricing date: | Feb. 12
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Upsized: | Feb. 13
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Stock symbol: | TSX Venture: CLP
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Stock price: | C$0.85 at close Feb. 12
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Stock price: | C$0.90 at close Feb. 13
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