Company sells units, flow-through units through non-brokered offering
By Devika Patel
Knoxville, Tenn., Sept. 14 - Fjordland Exploration Inc. said it raised C$620,300 in the second and final tranche of a C$1.11 million non-brokered private placement of units. The deal priced for C$1.5 million July 5 and the company took in C$491,590 in the first tranche on July 26.
The company sold a total of 4,113,609 units of one common share and one warrant at C$0.18 per unit and 1,614,956 flow-through units of one flow-through common share and one warrant at C$0.23 per unit.
Fjordland sold 667,500 units and 1,614,956 flow-through units in the first tranche. It sold 3,446,109 units in the second tranche.
The whole first tranche warrants are exercisable at C$0.23 until July 25, 2012. The second tranche warrants are exercisable at that price until Sept. 12, 2012. The strike price is a 21.05% premium to the company's closing price on July 4.
Richard C. Atkinson, a director, invested C$279,000.
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 flow-through common share and one warrant
|
| Amount: | C$1,111,890
|
| Warrants: | One per unit
|
| Warrant expiration: | July 25, 2012, Sept. 12, 2012
|
| Warrant strike price: | C$0.23
|
| Agent: | Non-brokered
|
| Investor: | Richard C. Atkinson (for C$279,000)
|
| Pricing date: | July 5
|
| Settlement date: | July 26 (for C$491,590), Sept. 14 (for C$620,300)
|
| Stock symbol: | TSX Venture: FEX
|
| Stock price: | C$0.19 at close on July 4
|
| Market capitalization: | C$12.14 million
|
|
|
| Units
|
| Amount: | C$740,450
|
| Units: | 4,113,609
|
| Price: | C$0.18
|
|
|
| Flow-through units
|
| Amount: | C$371,440
|
| Units: | 1,614,956
|
| Price: | C$0.23
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
