By Sheri Kasprzak
New York, March 10 - Exmin Resources Inc. said it has completed a private placement, including the greenshoe, for C$2.18 million.
The company sold 14,533,333 units at C$0.15 each including the over-allotment option for 255,000 units exercised by placement agent Union Securities Ltd.
The units comprise one share and one half-share warrant with each whole warrant exercisable at C$0.20 through March 9, 2008.
Of the units sold, 1.5 million were issued on a non-brokered basis.
The deal priced Feb. 28 as a C$1.2 million offering of 8 million units and was upsized to C$1,925,000 on March 1.
Based in Vancouver, B.C., Exmin is a precious metals exploration and development company.
| Issuer: | Exmin Resources Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2.18 million
|
| Units: | 14,533,333 (includes greenshoe for 255,000 units)
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Placement agent: | Union Securities Ltd. (for all but 1.5 million units)
|
| Pricing date: | Feb. 28
|
| Upsized: | March 1
|
| Settlement date: | March 10
|
| Stock symbol: | Pink Sheets: EXMFF
|
| Stock price: | C$0.185 at close Feb. 28
|
| Stock price: | C$0.225 at close March 1
|
| Stock price: | C$0.21 at close March 6 (last trade)
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