By Sheri Kasprzak
New York, Jan. 26 - Explorator Resources Inc. closed two private placements - a brokered and a non-brokered offering - for C$3,397,500.
In the brokered offering, the company sold 10 million units at C$0.25 each.
The units consist of one share and one warrant, which is exercisable at C$0.30 each for 18 months.
Blackmont Capital Inc. was the placement agent for this portion of the deal.
The non-brokered deal included 3.59 million units under the same terms.
The company expects to close another C$602,500 portion of the deal by the end of January.
Proceeds from the non-brokered portion of the deal will be used to pay the cash portion of the company's acquisition of Maximus Resources Chile SA. The remainder will be used for exploration and for working capital.
Calgary, Alta.-based Explorator is a mineral exploration company focused on gold and copper projects.
First issue
| Issuer: | Explorator Resources Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2.5 million
|
| Units: | 10 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.30
|
| Placement agent: | Blackmont Capital Inc.
|
| Settlement date: | Jan. 26
|
| Stock symbol: | TSX Venture: EXO
|
| Stock price: | C$0.50 at close Jan. 26
|
|
|
| Second issue
|
| Issuer: | Explorator Resources Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$897,500
|
| Units: | 3.59 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.30
|
| Placement agent: | Non-brokered
|
| Settlement date: | Jan. 26
|
| Stock symbol: | TSX Venture: EXO
|
| Stock price: | C$0.50 at close Jan. 26
|
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