Brokered, non-brokered deals price with a C$1 million greenshoe option
By Devika Patel
Knoxville, Tenn., Jan. 19 - i-minerals Inc. said it will conduct two private placements of units. The deals will raise C$4 million. The brokered portion, which is being conducted by Canaccord Genuity Corp., includes a C$1 million greenshoe. Of the units, C$2 million will be sold on a non-brokered basis.
The company will sell the units at C$0.30 apiece. Each unit will consist of one common share and one warrant. Each warrant is exercisable for one additional common share at C$0.40 for two years. The strike price reflects a 15.94% premium to the Jan. 18 closing share price of C$0.345.
Proceeds will be used to advance the Helmer-Bovill Project and for general working capital purposes.
i-minerals, based in Vancouver, B.C., mines, develops, processes and markets feldspar, quartz, halloysite and kaolin.
| Issuer: | i-minerals Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$4 million
|
| Price: | C$0.30
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Pricing date: | Jan. 19
|
| Stock symbol: | TSX Venture: IMA
|
| Stock price: | C$0.345 at close Jan. 18
|
| Market capitalization: | C$13.78 million
|
|
|
| Brokered deal
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| Amount: | C$2 million
|
| Greenshoe: | C$1 million
|
| Agent: | Canaccord Genuity Corp.
|
|
|
| Non-brokered deal
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| Amount: | C$2 million
|
| Agent: | Non-brokered
|
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