By Devika Patel
Knoxville, Tenn., April 26 - First Uranium Corp. said it raised C$150 million by selling senior secured convertible notes in a private placement. The deal priced March 12.
The notes, which are due March 31, 2013, are convertible into common shares at an initial conversion price of C$1.30, a 13% discount to the five-day volume-weighted average price of the shares. Each C$1,000 principal amount is convertible into 769.2307 shares.
Investors include Simmer and Jack Mines Ltd., which invested C$40 million, and Gold Wheaton Corp., which invested C$20 million.
The C$40 million of notes sold to Simmer and Jack Mines are denominated in South African rand. Each ZAR 1,000 principal amount will be convertible into 107.36 shares, also representing a conversion price of C$1.30.
Agent RBC Capital Markets Inc. was the agent.
First Uranium is a Vancouver, B.C.-based gold and uranium mining company.
| Issuer: | First Uranium Corp.
|
| Issue: | Senior secured convertible notes
|
| Amount: | C$150 million
|
| Maturity: | March 31, 2013
|
| Price: | Par of C$1,000
|
| Conversion price: | C$1.30
|
| Conversion ratio: | Into 769.2307 shares (per C$1,000 in notes)
|
| Warrants: | No
|
| Investors: | Simmer and Jack Mines Ltd. (for C$40 million) and Gold Wheaton Corp. (for C$20 million)
|
| Agent: | RBC Capital Markets Inc.
|
| Pricing date: | March 12
|
| Settlement date: | April 26
|
| Stock symbol: | Toronto: FIU
|
| Stock price: | C$1.49 at close March 11
|
| Market capitalization: | C$229 million
|
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