By Devika Patel
Knoxville, Tenn., April 28 - Indicator Minerals Inc. said it raised C$1.15 million in the first tranche of a C$1.4 million non-brokered private placement of units. The deal priced March 29.
The company is selling flow-through units at C$0.10 per unit and non-flow-through units at a price of C$0.08 per unit. It sold 4.27 million flow-through units and 8,997,500 non-flow-through units in this tranche.
Each flow-through unit consists of one flow-through common share and one warrant. Each warrant is exercisable at C$0.15 for two years.
Each non-flow-through unit consists of one common share and one warrant. Each warrant is exercisable at C$0.12 for two years.
Proceeds will be used for exploration and general working capital purposes.
Indicator Minerals is a Vancouver, B.C.-based Canadian exploration company focused on the discovery and development of economic gemstone deposits.
| Issuer: | Indicator Minerals Inc.
|
| Issue: | Flow-through units of one flow-through common share and one warrant, non-flow-through units of one common share and one warrant
|
| Amount: | C$1.4 million
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Agent: | Non-brokered
|
| Pricing date: | March 29
|
| Settlement date: | April 28 (for C$1,146,800)
|
| Stock symbol: | TSX Venture: IME
|
| Stock price: | C$0.09 at close March 29
|
| Market capitalization: | C$8.03 million
|
|
|
| Flow-through units
|
| Price: | C$0.10
|
| Warrant strike price: | C$0.15
|
|
|
| Non-flow-through units
|
| Price: | C$0.08
|
| Warrant strike price: | C$0.12
|
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