Brokered deal now includes full warrants; unit and strike prices cut
By Devika Patel
Knoxville, Tenn., Dec. 15 - Esperanza Resources Corp. said it has revised the terms of a private placement of units. The deal priced for C$6.02 million with a C$2.5 million greenshoe on Dec. 6 and will now raise C$6 million.
The company will now sell 2,927,000 units of one common share and one half-share warrant at C$2.05 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. The units originally were priced at C$2.15 each and had a half-share warrant.
Each warrant is exercisable at C$2.75 for two years. The strike price is a 12.25% premium to the Dec. 3 closing share price of C$2.45. The warrants originally were exercisable at C$3.00.
Settlement is expected Dec. 22.
The gold and silver explorer is based in Vancouver, B.C.
| Issuer: | Esperanza Resources Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$6.02 million
|
| Greenshoe: | C$2.5 million
|
| Units: | 2,927,000
|
| Price: | C$2.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$2.75
|
| Agents: | Salman Partners Inc. (lead), Mackie Research Capital Corp. and Haywood Securities Inc.
|
| Pricing date: | Dec. 6
|
| Revised: | Dec. 15
|
| Settlement date: | Dec. 22
|
| Stock symbol: | TSX Venture: EPZ
|
| Stock price: | C$2.45 at close Dec. 3
|
| Market capitalization: | C$115.96 million
|
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