By Devika Patel
Knoxville, Tenn., Jan. 12 - Dorato Resources Inc. said it increased a brokered private placement of units to C$10.47 million. The deal priced for C$7 million with a C$1.05 million greenshoe on Jan. 8. In addition, Dorato will be concurrently offering a non-brokered private placement of up to C$5 million on the same terms as this offering.
The company will now sell 9,971,850 units at C$1.05 apiece on a bought-deal basis.
Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$1.65 for 18 months.
The deal will be conducted by a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. and including Canaccord Financial Ltd.
Settlement is expected Jan. 26.
Proceeds will be used for exploration, general working capital and corporate purposes.
Vancouver, B.C.-based Dorato, formerly Quest Ventures, is trying to become a resources company.
| Issuer: | Dorato Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$15,470,443
|
| Price: | C$1.05
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.65
|
| Pricing date: | Jan. 8
|
| Upsized: | Jan. 12
|
| Settlement date: | Jan. 26
|
| Stock symbol: | TSX Venture: DRI
|
| Stock price: | C$1.27 at close Jan. 7
|
| Market capitalization: | C$47 million
|
|
|
| Brokered deal
|
| Amount: | C$10,470,443
|
| Units: | 9,971,850
|
| Agents: | Macquarie Capital Markets Canada Ltd. (lead), Canaccord Financial Ltd.
|
|
|
| Non-brokered deal
|
| Amount: | C$5 million
|
| Agent: | Non-brokered
|
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