By Susanna Moon
Chicago, July 18 - Halo Resources Ltd. said it closed its upsized private placement of units for C$2,751,000.
On July 9, the company closed the first tranche of units for C$2.058 million and increased the total issue size to C$2.7 million.
Halo sold 3,612,632 flow-through units at C$0.475 per unit and 2.3 million non flow-through units at C$0.45 per unit.
Each flow-through unit consists of one flow-through share and one half-share warrant. Each whole warrant from the flow-through units is exercisable at C$0.65 for 18 months.
Each non flow-through unit consists of one non flow-through share and one half-share warrant. Each whole warrant from the non flow-through units is exercisable at C$0.60 for 18 months.
The first tranche included 2,182,632 flow-through units at C$0.475 apiece and 2.27 million non flow-through units at C$0.45 apiece.
The placement was non-brokered.
Proceeds will be used for exploration and for working capital.
Halo is a resource exploration company based in Toronto.
| Issuer: | Halo Resources Ltd.
|
| Issue: | Units of one flow-through share and one half-share warrant; units of one non flow-through share and one half-share warrant
|
| Amount: | C$2,751,000
|
| Agent: | Non-brokered
|
| Pricing date: | June 14
|
| Announcement date: | June 22
|
| Settlement date: | July 9 (for C$2,058,250), July 18 (for remainder)
|
| Stock symbol: | TSX Venture: HLO
|
| Stock price: | C$0.49 at close June 13
|
| Stock price: | C$0.52 at close July 9
|
| Stock price: | C$0.57 at close July 17
|
|
|
| Flow-through units
|
| Amount: | C$1,716,000
|
| Units: | 3,612,632
|
| Price: | C$0.475
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Jan. 4, 2009
|
| Warrant strike price: | C$0.65
|
|
|
| Non flow-through units
|
| Amount: | C$1,035,000
|
| Units: | 2.3 million
|
| Price: | C$0.45
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Jan. 4, 2009
|
| Warrant strike price: | C$0.60
|
© 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.
