Cormark, Fraser Mackenzie help raise funds for Corcoesto Gold Project
By Toni Weeks
San Diego, Jan. 22 - Edgewater Exploration Ltd. announced it plans a C$5 million private placement of stock with a C$1.25 million greenshoe via a syndicate of underwriters co-led by Cormark Securities Inc. and Fraser Mackenzie Ltd.
The company will sell 11,112,000 common shares at C$0.45 per share on a bought-deal basis. The price per share reflects a 10% discount to the Jan. 18 closing share price of C$0.50.
Settlement is expected Feb. 13.
Proceeds will be used to advance the Corcoesto Gold Project in Spain and for general working capital.
Based in Vancouver, B.C., Edgewater explores for precious metals.
| Issuer: | Edgewater Exploration Ltd.
|
| Issue: | Common stock
|
| Amount: | C$5,000,400
|
| Greenshoe: | C$1,250,100
|
| Shares: | 1,112,000
|
| Price: | C$0.45
|
| Warrants: | No
|
| Agents: | Cormark Securities Inc. and Fraser Mackenzie Ltd. (leads)
|
| Pricing date: | Jan. 21
|
| Settlement date: | Feb. 13
|
| Stock symbol: | TSX Venture: EDW
|
| Stock price: | C$0.50 at close Jan. 18
|
| Market capitalization: | C$37.68 million
|
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