By Devika Patel
Knoxville, Tenn., July 9 - Dia Bras Exploration Inc. said it raised C$4 million in a non-brokered private placement of units. The deal priced on June 25.
The company sold 72,727,273 units at C$0.055 apiece. Each unit consists of one common share and a warrant. The warrants are exercisable at C$0.10 until Jan. 9, 2011.
Proceeds will be used for mine development activities at the Cusi silver project and to build the cyanidation vats at the Malpaso facilities. The balance will be used for working capital.
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$4 million
|
| Units: | 72,727,273
|
| Price: | C$0.055
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Jan. 9, 2011
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | June 25
|
| Settlement date: | July 9
|
| Stock symbol: | TSX Venture: DIB
|
| Stock price: | C$0.07 at close June 25
|
| Market capitalization: | C$21.3 million
|
© 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.
