By Sheri Kasprzak
New York, March 16 - Forum Development Corp. said it has concluded its previously announced private placement for C$3,904,800.
The company sold 4,836,000 flow-through shares at C$0.50 each and 3,304,000 non flow-through units at C$0.45 each.
The units consist of one share and one half-share warrant, the whole of which is exercisable at C$0.55 each for 18 months.
The expiry of the warrants may be accelerated to 30 days if the company's stock trades above C$1.00 for more than 20 consecutive trading days.
A syndicate of agents led by Dundee Securities Corp. and including Pacific International Securities Inc. placed the deal.
The offering priced Feb. 9 as a C$4,075,000 deal.
Based in Vancouver, B.C., Forum is a coalbed methane exploration and development company.
| Issuer: | Forum Development Corp.
|
| Issue: | Flow-through shares and units of one share and one half-share warrant
|
| Amount: | C$3,904,800
|
| Placement agents: | Dundee Securities Corp. (lead), Pacific International Securities Inc.
|
| Pricing date: | Feb. 9
|
| Settlement date: | March 16
|
| Stock symbol: | TSX Venture: FDC
|
| Stock price: | C$0.46 at close Feb. 9
|
| Stock price: | C$0.53 at close March 16
|
|
|
| Flow-through shares
|
| Shares: | 4,836,000
|
| Price: | C$0.50
|
| Warrants: | No
|
|
|
| Units
|
| Units: | 3,304,000
|
| Price: | C$0.45
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.55
|
|
|
© 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.
