By Sheri Kasprzak
New York, Oct. 31 - Fintry Enterprises Inc. said it plans to raise up to C$3 million in a private placement of subscription receipts.
The offering includes up to 3.75 million receipts at C$0.80 each.
The receipts are exchangeable on a one-for-one basis for units of one share and one warrant following Fintry's acquisition of BZU Minerals Ltd.
The warrants are exercisable at C$1.00 each for two years.
The private placement is expected to close on or before the date the acquisition is completed.
Canaccord Capital Corp. is the placement agent.
The proceeds will be used for drilling on mineral claims held by BZU.
Based in Vancouver, B.C., Fintry is a uranium exploration company.
| Issuer: | Fintry Enterprises Inc.
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| Issue: | Subscription receipts exchangeable for units of one share and one warrant
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| Amount: | C$3 million (maximum)
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| Receipts: | 3.75 million (maximum)
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| Price: | C$0.80
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| Warrants: | One warrant per unit upon exchange
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| Warrant expiration: | Two years
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| Warrant strike price: | C$1.00
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| Placement agent: | Canaccord Capital Corp.
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| Pricing date: | Oct. 28
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| Stock price: | C$0.42 at close Oct. 28
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