Financing sells 13,917,360 units with two-year warrants at C$0.22 per unit
By Devika Patel
Knoxville, Tenn., Aug. 12 - Eagle Star Minerals Corp. said it settled a C$3.06 million non-brokered private placement of units. The oversubscribed deal priced for C$2.5 million on June 16.
The company sold 13,917,360 units of one common share and one half-share warrant at C$0.22 per unit.
Each whole warrant is exercisable at C$0.32 for two years. The strike price is a 28% premium to the June 15 closing share price of C$0.25.
"The proceeds of the current financing will allow the company and its extremely capable local team to continue carrying out our strategy of building a strong mining company with a diversified portfolio of high quality mineral assets having a focus on Brazil," president and chief executive officer Eran Friedlander said in a press release.
The natural resource company is based in Vancouver, B.C.
| Issuer: | Eagle Star Minerals Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$3,061,819
|
| Units: | 13,917,360
|
| Price: | C$0.22
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.32
|
| Agent: | Non-brokered
|
| Pricing date: | June 16
|
| Settlement date: | Aug. 12
|
| Stock symbol: | TSX Venture: EGE
|
| Stock price: | C$0.24 at close June 16
|
| Market capitalization: | C$11.44 million
|
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