Deal consists of two types of shares at C$0.20 each, a 37.93% discount
By Devika Patel
Knoxville, Tenn., March 23 - Castillian Resources Corp. said it completed a private placement of common and flow-through common stock. The C$10 million priced March 2.
North Country sold 37,625,000 common shares at C$0.20 apiece, a 37.93% premium to the March 1 closing share price of C$0.145. It also sold 12,375,000 flow-through common shares at C$0.20 apiece, also a 37.93% premium to the March 1 closing share price.
The deal was conducted on a bought-deal basis by a syndicate of underwriters led by RBC Capital Markets and Dundee Securities Ltd.
Proceeds will be used for exploration at the Hope Brook Gold Project and for general working capital purposes.
The Toronto-based issuer explores for gold.
| Issuer: | Castillian Resources Corp.
|
| Issue: | Common shares, flow-through common shares
|
| Amount: | C$10 million
|
| Price: | C$0.20
|
| Warrants: | No
|
| Underwriters: | RBC Capital Markets and Dundee Securities Ltd. (leads)
|
| Pricing date: | March 2
|
| Settlement date: | March 23
|
| Stock symbol: | TSX Venture: CT
|
| Stock price: | C$0.15 at close March 2
|
| Market capitalization: | C$30.81 million
|
|
|
| Flow-through stock
|
| Amount: | C$2,475,000
|
| Shares: | 12,375,000
|
|
|
| Common stock
|
| Amount: | C$7,525,000
|
| Shares: | 37,625,000
|
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