By Laura Lutz
Des Moines, May 10 - Deal Capital Ltd. settled the brokered portion of its previously announced C$6 million private placement of subscription receipts for C$3.25 million.
In total, the company plans to sell 12 million subscription receipts at C$0.50 apiece.
The brokered portion consisted of 6.5 million subscription receipts placed through Pacific International Securities Inc.
Each subscription receipt will be exchanged for one unit upon completion of the company's qualifying transaction, the planned acquisition of the Santa Gertrudis gold deposit.
If the transaction is not completed by June 20, the proceeds of the placement will be refunded to the purchasers.
Each unit issued upon exchange will consist of one share and one half-share transferable warrant with each whole warrant exercisable at C$1.00 for two years.
The placement size was increased to C$6 million from C$5 million on April 25. At the same time, the size of the brokered portion was increased to C$3.25 million from C$3 million.
The remainder of the placement, which will be non-brokered, is expected to close shortly.
Proceeds will be used to explore the Santa Gertrudis project, to make payments to Sonora Gold Corp. and to make option payments to the Lopez-Limon claim holders as well as for working capital.
Deal Capital is a capital pool company based in Vancouver, B.C.
| Issuer: | Deal Capital Ltd.
|
| Issue: | Subscription receipts exchangeable for units of one share and one half-share warrant
|
| Amount: | C$6 million
|
| Receipts: | 12 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit upon exchange
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00
|
| Agent: | Pacific International Securities Inc. (for C$3.25 million); non-brokered (for C$2.75 million)
|
| Pricing date: | April 11
|
| Upsized: | April 25
|
| Settlement date: | May 10 (for C$3.25 million)
|
| Stock symbol: | TSX Venture: DCP.P
|
| Stock price: | C$0.325 at close April 10
|
| Stock price: | C$0.325 at close April 25
|
| Stock price: | C$0.325 at close May 9
|
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