Deal's proceeds to increase mill inventory from Treasure Mountain Mine
By Devika Patel
Knoxville, Tenn., Oct. 1 - Huldra Silver Inc. said it raised C$2.86 million in the initial tranche of a C$6.75 million non-brokered private placement of units. The deal priced Sept. 17.
The company is selling 5 million units of one common share and one half-share warrant at C$1.35 per unit. It sold 2,116,118 units in the first tranche.
Each whole warrant is exercisable at C$1.75 for six months. The strike price is a 17.45% premium to the closing share price of C$1.49 on Sept. 14.
Proceeds will be used to increase the mill inventory from the Treasure Mountain Mine and for debt repayment and general working capital.
Vancouver, B.C.-based Huldra explores and develops silver deposits.
| Issuer: | Huldra Silver Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$6.75 million
|
| Units: | 5 million
|
| Price: | C$1.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Six months
|
| Warrant strike price: | C$1.75
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 17
|
| Settlement date: | Oct. 1 (for C$2,856,759)
|
| Stock symbol: | TSX Venture: HDA
|
| Stock price: | C$1.49 at close Sept. 14
|
| Market capitalization: | C$57.72 million
|
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