By Laura Lutz
Des Moines, April 5 - Inspiration Mining Corp. upsized its private placement of units to C$4.125 million from C$2.75 million.
The company now plans to sell 1.5 million units of one share and one warrant at C$2.75 per unit. Each warrant will be exercisable at C$3.50 for one year.
The deal priced on March 29 as an offering of up to 1 million units.
Proceeds of the non-brokered placement will be used for exploration and development and for working capital.
Inspiration is a Toronto-based mining company.
| Issuer: | Inspiration Mining Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$4.125 million
|
| Units: | 1.5 million
|
| Price: | C$2.75
|
| Warrants: | One per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$3.50
|
| Agent: | Non-brokered
|
| Pricing date: | March 29
|
| Upsized: | April 5
|
| Stock symbol: | TSX Venture: ISM
|
| Stock price: | C$3.12 at close March 28
|
| Stock price: | C$2.88 at close April 5
|
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