By Sheri Kasprzak
New York, Oct. 14 - Tribute Minerals Inc. said it has negotiated a private placement for up to C$1 million.
The offering includes up to 5 million units at C$0.10 each and up to 3,333,333 flow-through units at C$0.15 each.
Both the non flow-through and flow-through units are composed of one share and one warrant. The warrants are exercisable at C$0.12 each for two years.
Placement agent Union Securities Ltd. has an over-allotment option for up to 15% of the offering.
The deal is expected to close Oct. 27.
Proceeds will be used for exploration on the company's properties and for working capital.
Based in Toronto, Tribute is a mineral exploration company.
| Issuer: | Tribute Minerals Inc.
|
| Issue: | Non flow-through and flow-through units of one share and one warrant
|
| Amount: | C$1 million (maximum)
|
| Greenshoe: | For up to 15% of the offering
|
| Placement agent: | Union Securities Ltd.
|
| Pricing date: | Oct. 14
|
| Settlement date: | Oct. 27
|
| Stock price: | C$0.10 at close Oct. 13
|
|
|
| Non flow-through units
|
| Units: | 5 million (maximum)
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.12
|
|
|
| Flow-through units
|
| Units: | 3,333,333 (maximum)
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.12
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
