By Laura Lutz
Washington, March 19 - Hathor Exploration Ltd. negotiated a private placement of units and flow-through shares for up to C$20.08 million.
The company plans to sell up to 8.75 million units at C$1.60 per unit and up to 3.2 million flow-through shares at C$1.90 per share.
Each unit will consist of one non flow-through share and one half-share warrant. Each whole warrant will be exercisable at C$2.00 for two years.
Expiry of the warrants may be accelerated to 30 days if the volume-weighted average closing price of the company's shares exceeds C$3.00 for more than 20 consecutive trading days.
The agents, a syndicate led by Salman Partners Inc. and including Desjardins Securities Inc., have a greenshoe for up to C$2 million of units.
Proceeds will be used for exploration and development and for working capital.
Hathor is a resource exploration company based in Vancouver, B.C.
| Issuer: | Hathor Exploration Ltd.
|
| Issue: | Units of one non flow-through share and one half-share warrant; flow-through shares
|
| Amount: | C$20.08 million
|
| Agents: | Salman Partners Inc. (lead), Desjardins Securities Inc.
|
| Pricing date: | March 19
|
| Stock symbol: | TSX Venture: HAT
|
| Stock price: | C$1.70 at close March 19
|
|
|
| Units
|
| Amount: | C$6.08 million
|
| Units: | 3.2 million
|
| Greenshoe: | For C$2 million
|
| Price: | C$1.90
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$2.00
|
|
|
| Flow-through shares
|
| Amount: | C$14 million
|
| Shares: | 8.75 million
|
| Price: | C$1.60
|
| Warrants: | No
|
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