By Devika Patel
Knoxville, Tenn., March 27 - Dia Bras Exploration Inc. said it raised C$1.96 million in a private placement of units. The deal priced for C$1.85 million on March 11 and was lifted to C$1.98 million on March 24.
The company sold 35,712,818 units at C$0.055 apiece. Each unit consists of one common share and a warrant. The warrants are exercisable at C$0.11 for one year.
Arias Resource Capital Fund LP invested C$1.5 million.
Proceeds will be used to finance operations.
Based in Montreal, Dia Bras is a precious and base metals exploration company.
| Issuer: | Dia Bras Exploration Inc.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | C$1,964,205
|
| Units: | 35,712,818
|
| Price: | C$0.055
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.11
|
| Investor: | Arias Resource Capital Fund LP (for C$1.5 million)
|
| Pricing date: | March 11
|
| Upsized: | March 24
|
| Settlement date: | March 27
|
| Stock symbol: | TSX Venture: DIB
|
| Stock price: | C$0.06 at close March 10
|
© 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.
