Vancouver, B.C., metals explorer offers equity units at C$3.25 apiece
By Devika Patel and Stephanie N. Rotondo
Knoxville, Tenn., Feb. 22 - Eurasian Minerals Inc. said it increased a private placement of units.
The offering priced for C$5.01 million on Feb. 18 and was upped to C$16.25 million.
The company will sell 5 million units of one common share and a half-share warrant at C$3.25 apiece. Each whole two-year warrant is exercisable at C$4.00.
The strike price reflects a 21.21% premium to the Feb. 17 closing share price of C$3.30.
David M. Cole, president and chief executive officer, told Prospect News that the increase in the financing was due to "robust investor interest and the desire to increase our treasury to facilitate organic growth and the pursuit of key investments."
Cole added that the deal was expected to close "in the forthcoming few weeks," estimating a completion in early March.
Based in Vancouver, B.C., Eurasian is a precious and base metals exploration company.
| Issuer: | Eurasian Minerals Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$16.25 million
|
| Units: | 5 million
|
| Price: | C$3.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$4.00
|
| Pricing date: | Feb. 18
|
| Upsized: | Feb. 22
|
| Stock symbol: | TSX Venture: EMX
|
| Stock price: | C$3.30 at close Feb. 18
|
| Market capitalization: | C$126.78 million
|
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