Investor Jennings Capital also will have a C$2.25 million greenshoe
By Devika Patel
Knoxville, Tenn., Dec. 2 - Energold Drilling Corp. said it plans a private placement of units. There is a C$2.25 million greenshoe for the C$15 million deal.
The company will sell 4,054,054 units at C$3.70 apiece on a bought-deal basis to Jennings Capital Inc. Each unit consists of one common share and one half-share warrant. Each whole warrant will be exercisable at C$4.50 for two years.
The strike price reflects an 11.11% premium to C$4.05, the closing share price on Dec. 1.
Settlement is expected on Dec. 23.
Proceeds will be used to expand the Company's rig fleet and for general working capital purposes.
Energold is a diamond drilling company based in Vancouver, B.C.
| Issuer: | Energold Drilling Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$15 million
|
| Greenshoe: | C$2.25 million
|
| Units: | 4,054,054
|
| Price: | C$3.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$4.50
|
| Investor: | Jennings Capital Inc.
|
| Pricing date: | Dec. 2
|
| Settlement date: | Dec. 23
|
| Stock symbol: | TSX Venture: EGD
|
| Stock price: | C$3.96 at close Dec. 2
|
| Market capitalization: | C$138.35 million
|
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