Non-brokered deal funds exploration, general working capital purposes
By Devika Patel
Knoxville, Tenn., Jan. 2 - Indico Resources Ltd. said it settled a C$2.68 million non-brokered private placement of units. The deal priced Nov. 13 and was increased from C$2 million on Dec. 27.
The company sold 26,762,000 units of one common share and one warrant at C$0.10 per unit.
Each warrant is exercisable at C$0.15 until Dec. 31, 2016. The strike price is a 50% premium to the Nov. 12 closing share price of C$0.10.
Proceeds will be used for exploration and general working capital purposes.
Indico is a resource exploration company based in Vancouver, B.C.
| Issuer: | Indico Resources Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2,676,200
|
| Units: | 26,762,000
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Dec. 31, 2016
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 13
|
| Upsized: | Dec. 27
|
| Settlement date: | Jan. 2
|
| Stock symbol: | TSX Venture: BRI
|
| Stock price: | C$0.10 at close Nov. 12
|
| Market capitalization: | C$12.05 million
|
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