By Laura Lutz
Des Moines, Nov. 9 - Full Metal Minerals Ltd. settled its previously announced private placement of units for C$5,002,500, including the full exercise of a greenshoe for C$977,500.
The company sold 2.175 million units of one share and one half-share transferable warrant for C$2.30 per unit, including the greenshoe for 425,000 units.
Each whole warrant will be exercisable at C$3.00 for two years.
The deal priced on Oct. 24 as an offering of 1.75 million units with a greenshoe for 250,000 units. The greenshoe was upsized to its final size on Oct. 25.
Canaccord Adams will act as placement agent.
Proceeds will be used for exploration and working capital.
Full Metal is a Vancouver, B.C.-based mineral company focused on properties in Alaska.
| Issuer: | Full Metal Minerals Ltd.
|
| Issue: | Units of one share and one half-share transferable warrant
|
| Amount: | C$5,002,500
|
| Units: | 2.175 million (includes greenshoe for 425,000)
|
| Price: | C$2.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$3.00
|
| Agent: | Canaccord Adams
|
| Pricing date: | Oct. 24
|
| Amended: | Oct. 25
|
| Settlement date: | Nov. 9
|
| Stock symbol: | TSX Venture: FMM
|
| Stock price: | C$2.46 at close Oct. 23
|
| Stock price: | C$2.29 at close Oct. 24
|
| Stock price: | C$2.28 at close Nov. 9
|
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