By Devika Patel
Knoxville, Tenn., June 18 - Indicator Minerals Inc. said it settled a C$1.5 million tranche of a C$2 million non-brokered private placement of units. The deal priced on May 28.
The company is selling flow-through units at C$0.15 per unit and non-flow-through units at a price of C$0.12 per unit. It sold 10 million flow-through units to MineralFields Group in this tranche.
Each flow-through unit consists of one flow-through common share and one warrant. Each warrant is exercisable at C$0.20 for two years.
Each non-flow-through unit consists of one common share and one warrant. Each warrant is exercisable at C$0.16 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$2 million
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Agent: | Non-brokered
|
| Investor: | MineralFields Group (for C$1.5 million)
|
| Pricing date: | May 28
|
| Settlement date: | June 18 (for C$1.5 million)
|
| Stock symbol: | TSX Venture: IME
|
| Stock price: | C$0.135 at close May 27
|
| Market capitalization: | C$11 million
|
|
|
| Flow-through units
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| Price: | C$0.15
|
| Warrant strike price: | C$0.20
|
|
|
| Non-flow-through units
|
| Price: | C$0.12
|
| Warrant strike price: | C$0.16
|
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