By Devika Patel
Knoxville, Tenn., April 6 - First Point Minerals Corp. said that due to strong investor interest it has increased a private placement of units to C$7.5 million. The deal priced for C$5 million on March 29, and the company expects the financing to be fully subscribed.
The company will now sell 15 million units at C$0.50 per unit. Each unit consists of one common share and one half-share warrant. The whole two-year warrants are exercisable at C$0.65 in the first year and at C$0.80 thereafter.
Settlement is expected April 19.
Based in Vancouver, B.C., First Point is a precious and base metals exploration company.
| Issuer: | First Point Minerals Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$7.5 million
|
| Units: | 15 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.65 in the first year, C$0.80 thereafter
|
| Pricing date: | March 29
|
| Upsized: | April 6
|
| Settlement date: | April 19
|
| Stock symbol: | TSX Venture: FPX
|
| Stock price: | C$0.48 at close March 29
|
| Market capitalization: | C$30.6 million
|
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