By Sheri Kasprzak
New York, April 5 - Exile Resources Inc. said it priced a C$10 million private placement.
The offering includes 20 million units of one share and one half-share warrant. The whole warrants are exercisable at C$0.75 for two years.
A syndicate of placement agents led by Westwind Partners Inc. and MGI Securities Inc. has a greenshoe for up to 2 million units.
The deal is slated to close April 19.
Proceeds will be used for acquisitions in Africa and for general corporate purposes.
Toronto-based Exile is an oil and natural gas exploration company.
| Issuer: | Exile Resources Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$10 million
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| Units: | 20 million
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| Greenshoe: | For 2 million units
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| Price: | C$0.50
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.75
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| Placement agent: | Westwind Partners Inc. (co-lead), MGI Securities Inc. (co-lead)
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| Pricing date: | April 5
|
| Settlement date: | April 19
|
| Stock symbol: | TSX Venture: ERI
|
| Stock price: | C$0.70 at close May 3
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