Brokered offering has a C$2.5 million greenshoe, mineral explorer says
By Devika Patel
Knoxville, Tenn., Dec. 6 - Esperanza Resources Corp. said it has negotiated a private placement of units. The C$6.02 million deal has a C$2.5 million greenshoe.
The company will sell units of one common share and one half-share warrant at C$2.15 apiece on a best-efforts basis via a syndicate of agents led by Salman Partners Inc. and including Mackie Research Capital Corp. and Haywood Securities Inc.
Each whole warrant is exercisable at C$3.00 for two years. The strike price is a 22.45% premium to the Dec. 3 closing share price of C$2.45.
Settlement is expected Dec. 21.
The gold and silver explorer is based in Vancouver, B.C.
| Issuer: | Esperanza Resources Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$6.02 million
|
| Greenshoe: | C$2.5 million
|
| Price: | C$2.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$3.00
|
| Agents: | Salman Partners Inc. (lead), Mackie Research Capital Corp. and Haywood Securities Inc.
|
| Pricing date: | Dec. 6
|
| Settlement date: | Dec. 21
|
| Stock symbol: | TSX Venture: EPZ
|
| Stock price: | C$2.45 at close Dec. 3
|
| Market capitalization: | C$127.66 million
|
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