By Laura Lutz
Des Moines, May 4 - ECU Silver Mining Inc. announced pricing for its C$25.001 million private placement of units.
The company plans to sell 10.87 million units of one share and one half-share warrant at C$2.30 per unit. Each whole warrant will be exercisable at C$2.85 for two years.
A syndicate led by Blackmont Capital Inc. and including CIBC World Markets Inc., Desjardins Securities Inc., TD Securities Inc. and Salman Partners Inc. will act as agents.
The agents have a greenshoe for up to 15% of the offering size.
Proceeds will be used to advance the company's Mexican silver properties.
The deal was announced on May 3. Settlement is expected on May 30.
ECU is a metals exploration and development company based in Toronto.
| Issuer: | ECU Silver Mining Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$25.001 million
|
| Greenshoe: | For 15% of deal size
|
| Units: | 10.87 million
|
| Price: | C$2.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$2.85
|
| Agents: | Blackmont Capital Inc. (lead), CIBC World Markets Inc., Desjardins Securities Inc., TD Securities Inc. and Salman Partners Inc.
|
| Announcement date: | May 3
|
| Pricing date: | May 4
|
| Settlement date: | May 30
|
| Stock symbol: | TSX Venture: ECU
|
| Stock price: | C$2.32 at close May 4
|
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