Offering finances exploration, tax credit and general working capital
By Devika Patel
Knoxville, Tenn., May 4 – VMS Ventures Inc. said it settled a C$2.76 million non-brokered private placement of stock and units. The deal priced for C$3 million on April 30.
The company sold 7,325,450 flow-through shares at C$0.275 each.
The company also sold units of one common share and one warrant at C$0.25 per unit. Each warrant is exercisable at C$0.30 per share in the first year and at C$0.35 per share in the second year.
The price-per-share is a 19.56% premium to the closing share price of C$0.23 on April 29. The strike prices are 30.43% and 52.17% premiums to that price.
Marquest Capital Markets and Secutor Capital Management Corp. received finder’s fees.
Proceeds will be used for exploration and general working capital.
VMS Ventures is a copper-zinc-gold-silver massive sulphide exploration company based in Vancouver, B.C.
| Issuer: | VMS Ventures Inc.
|
| Issue: | Flow-through shares, units of one common share and one warrant
|
| Amount: | C$2,756,999
|
| Agent: | Non-brokered
|
| Pricing date: | April 30
|
| Settlement date: | May 4
|
| Stock symbol: | TSX Venture: VMS
|
| Stock price: | C$0.23 at close April 29
|
| Market capitalization: | C$31.86 million
|
|
|
| Stock
|
| Amount: | C$2,014,499
|
| Shares: | 7,325,450
|
| Price: | C$0.275
|
|
|
| Units
|
| Amount: | C$742,500
|
| Units: | 2.97 million
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant strike prices: | C$0.30 in first year, C$0.35 in second year
|
| Warrant expiration: | Two years
|
© 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.
