Non-brokered offering finances exploration work and working capital
By Devika Patel
Knoxville, Tenn., Dec. 30 - Hinterland Metals Inc. said it concluded a non-brokered private placement of units. The deal priced for C$1 million on Nov. 30 and was increased on Dec. 3 to C$1.13 million; the company raised the full amount.
The company sold 3.2 million flow-through units of one flow-through common share and a half-share warrant at C$0.125 per unit. It also sold 5.8 million units of one common share and a warrant at C$0.125 apiece.
Each whole warrant is exercisable at C$0.15 until Dec. 29, 2011. The strike price reflects a 25% premium to the Nov. 29 closing share price of C$0.12.
Proceeds will be used for general working capital and exploration work.
Hinterland is a resource exploration company based in Val d'Or, Quebec.
| Issuer: | Hinterland Metals Inc.
|
| Issue: | Flow-through units of one flow-through common share and a half-share warrant, units of one common share and a warrant
|
| Amount: | C$1,125,000
|
| Price: | C$0.125
|
| Warrant expiration: | Dec. 29, 2011
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 30
|
| Upsized: | Dec. 3
|
| Settlement date: | Dec. 30
|
| Stock symbol: | TSX Venture: HMI
|
| Stock price: | C$0.12 at close Nov. 30
|
| Market capitalization: | C$10.11 million
|
|
|
| Flow-through units
|
| Amount: | C$400,000
|
| Units: | 3.2 million
|
| Warrants: | One half-share warrant per unit
|
|
|
| Units
|
| Amount: | C$725,000
|
| Units: | 5.8 million
|
| Warrants: | One warrant per unit
|
© 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.
