By Sheri Kasprzak
New York, Aug. 17 - IMA Exploration Inc. said it plans to head to the private placement market with a C$7.5 million offering.
The company plans to sell 2.5 million units at C$3.00 each.
The units include one share and one half-share warrant. The whole warrants allow for the purchase of an additional share at C$3.45 each for four years.
A syndicate of underwriters led by Canaccord Capital Corp. and including Paradigm Capital Inc. and First Associates Investments Inc. will place the deal.
The proceeds will be used for working capital, exploration and development.
Based in Vancouver, B.C., IMA is a silver exploration company.
| Issuer: | IMA Exploration Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$7.5 million
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| Units: | 2.5 million
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| Price: | C$3.00
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Four years
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| Warrant strike price: | C$3.45
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| Underwriters: | Canaccord Capital Corp. (lead); Paradigm Capital Inc.; First Associates Investments Inc.
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| Pricing date: | Aug. 17
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| Stock price: | C$3.20 at close Aug. 17
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