Non-brokered deal sells units of one share and one half-share warrant
By Devika Patel
Knoxville, Tenn., Nov. 12 - First Point Minerals Corp. said it plans a C$1 million non-brokered private placement of units.
The company will sell 5,882,353 units of one common share and a half-share warrant at C$0.17 per unit. Each whole warrant is exercisable at C$0.25 for three years. The strike price is a 38.89% premium to the Nov. 11 closing share price of C$0.18.
Proceeds will be used for exploration.
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 a half-share warrant
|
| Amount: | C$1 million
|
| Units: | 5,882,353
|
| Price: | C$0.17
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 12
|
| Stock symbol: | Toronto: FPX
|
| Stock price: | C$0.18 at close Nov. 11
|
| Market capitalization: | C$16.29 million
|
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