Offering's proceeds slated to finance drill program, working capital
By Devika Patel
Knoxville, Tenn., Jan. 4 - Hunter Bay Minerals plc said Thursday that it plans a C$1 million private placement of units.
The company will sell 10 million units of one ordinary share and a warrant at C$0.10 per unit. Each six-month warrant is exercisable at C$0.10, which is identical to the Jan. 2 closing share price.
Proceeds will be used for the company's drill program on its Sela Creek Project, as well as for general working capital and corporate purposes.
Based in London, Hunter Bay explores for gold.
| Issuer: | Hunter Bay Minerals plc
|
| Issue: | Units of one ordinary share and a warrant
|
| Amount: | C$1 million
|
| Units: | 10 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Six months
|
| Warrant strike price: | C$0.10
|
| Pricing date: | Jan. 3
|
| Stock symbol: | TSX Venture: HBY
|
| Stock price: | C$0.10 at close Jan. 2
|
| Market capitalization: | C$3.5 million
|
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