E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 6/19/2008 in the Prospect News PIPE Daily.

New Issue: Erdene wraps C$18.59 million private placement of shares

By Devika Patel

Knoxville, Tenn., June 19 - Erdene Resource Development Corp. said it raised C$18.59 million in a private placement of stock. The deal priced for C$15 million with a C$5 million greenshoe on June 2.

The company sold 18,586,000 common shares at C$1.00 apiece. Of those shares, 3,586,000 were part of the partially exercised greenshoe.

Toll Cross Securities Inc. and National Bank Financial Inc. were co-lead agents. Acadian Securities Inc., Beacon Securities Ltd. and Citadel Securities Inc. also were members of the selling group.

Proceeds will be used for mineral exploration and development activities and for general corporate purposes.

Erdene, formerly Erdene Gold Inc., is a resource exploration company based in Dartmouth, N.S.

Issuer:Erdene Resource Development Corp.
Issue:Flow-through common shares
Amount:C$18,586,000 (including C$3,586,000 greenshoe)
Shares:18,586,000
Price:C$1.00
Warrants:No
Agent:Toll Cross Securities Inc., National Bank Financial Inc. (co-leads), Acadian Securities Inc., Beacon Securities Ltd., Citadel Securities Inc.
Pricing date:June 2
Settlement date:June 19
Stock symbol:Toronto: ERD
Stock price:C$0.98 at close May 30

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.