By Devika Patel
Knoxville, Tenn., Dec. 7 - Halo Resources Ltd. announced that it is increasing a non-brokered private placement of units and stock to C$3.65 million. The deal priced on Nov. 27 for C$2 million.
The company now plans to sell up to 4,675,000 flow-through shares, increased from 2,125,000 shares, at C$0.47 per share for C$2.2 million, up from C$998,750. It also will sell up to 3.5 million units, boosted from 2.38 million units, at C$0.42 apiece for C$1.47 million, up from C$999,600.
Each unit will consist of one common share and one half-share warrant, with each whole warrant exercisable at C$0.60 for two years.
Proceeds will be used for exploration and general corporate purposes.
Halo is a resource exploration company based in Toronto.
| Issuer: | Halo Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant; flow-through shares
|
| Amount: | C$3,652,584
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 26
|
| Upsized: | Dec. 7
|
| Stock symbol: | TSX Venture: HLO
|
| Stock price: | C$0.43 at close Nov. 26
|
|
|
| Units
|
| Amount: | C$1.47 million
|
| Units: | 3.5 million
|
| Price: | C$0.42
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.60
|
|
|
| Flow-through shares
|
| Amount: | C$2,197,250
|
| Shares: | 4,675,000
|
| Price: | C$0.47
|
| Warrants: | No
|
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