By Devika Patel
Knoxville, Tenn., Feb. 14 - Dianor Resources Inc. said it will raise C$10 million in a private placement of units and stock.
The company will sell 8,888,889 flow-through shares at C$0.45 per share for C$4 million and 17,142,854 units at C$0.35 apiece for C$6 million.
Each unit is comprised of one common share and one warrant. Each warrant is exercisable at C$0.45 for one year.
Northern Securities Inc., the agent, has a greenshoe for up to 8,571,428 additional units for C$3 million and up to 4,444,444 additional flow-through shares for C$2 million.
Proceeds will be used for exploration and working capital.
Based in Val d'Or, Quebec, Dianor is a diamond exploration company.
| Issuer: | Dianor Resources Inc.
|
| Issue: | Units of one common share and one warrant; flow-through shares
|
| Amount: | C$10 million
|
| Greenshoe: | C$5 million (C$2 million in shares, C$3 million in units)
|
| Agent: | Northern Securities Inc.
|
| Pricing date: | Feb. 14
|
| Stock symbol: | TSX Venture: DOR
|
| Stock price: | C$0.375 at close Feb. 14
|
|
|
| Units
|
| Amount: | C$6 million
|
| Units: | 17,142,854
|
| Price: | C$0.35
|
| Warrants: | One per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.45
|
|
|
| Flow-through shares
|
| Amount: | C$4 million
|
| Shares: | 8,888,889
|
| Price: | C$0.45
|
| Warrants: | No
|
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