Proceeds used to advance the Treasure Mountain project to production
By Devika Patel
Knoxville, Tenn., July 14 - Huldra Silver Inc. said it settled a C$9.34 million private placement of special warrants. National Bank Financial Inc. and Pope & Co. Ltd. were the agents for the deal, which was announced as a C$10 million offering on June 22.
The company sold 6,476,880 special warrants at C$1.05 per special warrant and 2,113,366 flow-through special warrants at C$1.20 per flow-through special warrant. The prices reflect a 21.64% and 10.45% discounts to the July 13 closing share price of C$1.34.
The special warrants are convertible into units of one common share and one two-year warrant. The flow-through special warrants are convertible into flow-through common shares.
Bayfront Capital Partners Ltd. received a finder's fee.
Proceeds will be used to advance the Treasure Mountain project towards production, for further exploration and resource expansion and for general working capital purposes.
Vancouver, B.C.-based Huldra is a silver explorer.
| Issuer: | Huldra Silver Inc.
|
| Issue: | Special warrants, flow-through special warrants
|
| Amount: | C$9,336,763
|
| Agent: | National Bank Financial Inc. and Pope & Co. Ltd
|
| Pricing date: | July 14
|
| Stock symbol: | TSX Venture: HDA
|
| Stock price: | C$1.34 at close July 13
|
| Market capitalization: | C$26.3 million
|
|
|
| Special warrants
|
| Amount: | C$6,800,724
|
| Warrants: | 6,476,880
|
| Price: | C$1.05
|
|
|
| Flow-through special warrants
|
| Amount: | C$2,536,039
|
| Warrants: | 2,113,366
|
| Price: | C$1.20
|
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