By Sheri Kasprzak
New York, Aug. 18 - IMA Exploration Inc. said Thursday that its previously announced C$7.5 million private placement has an over-allotment option attached to it.
A syndicate of underwriters led by Canaccord Capital Corp. and including Paradigm Capital Inc. and First Associates Investments Inc. will have the right to sell up to C$2.5 million in additional units associated with the deal.
The full details of the offering, apart from the greenshoe, are 2.5 million units at C$3.00 each.
The units consist of one share and one half-share warrant. The whole warrants provide for the purchase of an additional share at C$3.45 each for four years.
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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| Greenshoe: | C$2.5 million
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| Units: | 2.5 million (0.83334 million greenshoe)
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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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| Amended: | Aug. 18
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| Stock price: | C$3.20 at close Aug. 17
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| Stock price: | C$2.93 at close Aug. 18
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