Offering consists of flow-through, regular units of shares, warrants
By Susanna Moon
Chicago, July 5 - Fjordland Exploration Inc. said it plans to raise up to C$1.5 million in a non-brokered private placement of flow-through and non flow-through units of one common share and one share purchase warrant.
The company will sell up to 2,775,000 units at C$0.18 apiece and up to 4.35 million flow-through units at C$0.23 each. Warrants will be exercisable at C$0.23 for one year.
The strike price is a 21.05% premium to the company's closing price on July 4.
The deal will finance exploration at the company's projects in Canada, and proceeds also will be used for general working capital.
Vancouver, B.C.-based Fjordland is a mineral exploration company engaged in the acquisition and exploration of prospective copper, gold and molybdenum properties in Canada.
| Issuer: | Fjordland Exploration Inc.
|
| Issue: | Units of one common share and one warrant; flow-through units of one common share and one warrant
|
| Amount: | C$1.5 million
|
| Warrants: | One per unit
|
| Warrant strike price: | One year
|
| Warrant expiration: | C$0.23
|
| Agent: | Non-brokered
|
| Pricing date: | July 5
|
| Stock symbol: | TSX Venture: FEX
|
| Stock price: | C$0.19 at close on July 4
|
| Market capitalization: | C$12.7 million
|
|
|
| Units
|
| Amount: | C$499,500
|
| Units: | 2,775,000
|
| Price: | C$0.18
|
|
|
| Flow-through units
|
| Amount: | C$1 million
|
| Units: | 4.35 million
|
| Price: | C$0.23
|
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