By Devika Patel
Knoxville, Tenn., Oct. 20 - Vault Minerals Inc. said it plans a C$2.05 million private placement of shares and units via agent Primary Capital Inc.
The company will sell up to 3.5 million flow-through common shares at C$0.30 each, generating up to C$1.05 million of proceeds.
Vault Minerals also will sell up to 4 million units at C$0.25 apiece for a total of up to C$1 million.
Each unit will consist of one common share and one half-share warrant, with each whole warrant exercisable at C$0.35 for two years.
Proceeds will be used to explore the company's Kirkland Lake gold properties and for general working capital purposes.
Vault Minerals is a junior resource exploration company in Kirkland Lake, Ont.
| Issuer: | Vault Minerals Inc.
|
| Issue: | Flow-through common shares, units of one common share and one half-share warrant
|
| Amount: | C$2.05 million
|
| Agent: | Primary Capital Inc.
|
| Pricing date: | Oct. 20
|
| Stock symbol: | TSX Venture: VMI
|
| Stock price: | C$0.23 at close Oct. 19
|
| Market capitalization: | C$7.33 million
|
|
|
| Flow-through shares
|
| Amount: | C$1.05 million
|
| Shares: | 3.5 million
|
| Price: | C$0.30
|
| Warrants: | No
|
|
|
| Units
|
| Amount: | C$1 million
|
| Units: | 4 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.35
|
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