By Sheri Kasprzak
New York, May 18 - Coronation Minerals Inc. wrapped its previously announced C$2 million private placement with slightly different terms.
The company issued 3,112,000 flow-through shares at C$0.28 each and 4,030,857 units at C$0.28 each.
The units consist of one share and one warrant. The warrants are exercisable at C$0.40 each for two years.
The expiry of the warrants may be accelerated to 30 days if the company's stock trades above C$0.80 for more than 20 consecutive trading days.
The non-brokered deal priced on April 3 as a C$2 million offering of 3,571,429 flow-through shares at C$0.28 each and 3,571,429 units at C$0.28 each.
Proceeds will be used for exploration on the company's Wellgreen property and for working capital and general corporate purposes.
Based in Toronto, Coronation is a mineral exploration company.
| Issuer: | Coronation Minerals Inc.
|
| Issue: | Flow-through shares and units of one share and one warrant
|
| Amount: | C$2 million
|
| Placement agent: | Non-brokered
|
| Pricing date: | April 3
|
| Settlement date: | May 18
|
| Stock symbol: | TSX Venture: CMV
|
| Stock price: | C$0.37 at close April 3
|
| Stock price: | C$0.40 at close May 18
|
|
|
| Flow-through shares
|
| Shares: | 3,112,000
|
| Price: | C$0.28
|
| Warrants: | No
|
|
|
| Units
|
| Units: | 4,030,857
|
| Price: | C$0.28
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
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