Company now will sell shares and two-year warrants at C$0.05 per unit
By Devika Patel
Knoxville, Tenn., June 18 - Falkirk Resources Corp. said it has revised the terms of a C$3 million non-brokered private placement of units. The deal priced May 4 and was amended due to market conditions.
The company will now sell 60 million units of one common share and one warrant at C$0.05 per unit. It originally planned to sell 53,334,000 units of one common share and one warrant at C$0.05625 per unit.
Each two-year warrant is exercisable at C$0.10. The strike price is an 11.11% premium to C$0.09, the May 3 closing share price.
Proceeds will be used as working capital.
Based in Vancouver, B.C., Falkirk is a natural resource explorer with a focus on gold.
| Issuer: | Falkirk Resources Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3 million
|
| Units: | 60 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | May 4
|
| Amended: | June 18
|
| Stock symbol: | TSX Venture: FLK
|
| Stock price: | C$0.09 at close May 3
|
| Market capitalization: | C$1.6 million
|
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