Over-allotment option partially exercised, still open for 30 days
By Susanna Moon
Chicago, Aug. 20 - Integra Gold Corp. said it raised C$3.3 million from an oversubscribed private placement of units with a partial greenshoe exercise after upsizing the deal to C$3 million on Aug. 9. The deal priced for C$2.5 million Aug. 2 with a 15% greenshoe.
The remainder of the over-allotment option will remain open for 30 days, according to a company press release.
The company sold 10,753,632 units, consisting of 1,949,300 non-flow-through units of one common share and one warrant at C$0.27 per unit and 8,804,332 flow-through units of one flow-through common share and one half-share warrant at C$0.315 per unit.
Industrial Alliance Securities Inc. leads the syndicate of agents, which includes Stonecap Securities Inc. and Euro Pacific Canada.
The non-flow-through unit warrants are each exercisable at C$0.40 for 18 months, and the flow-through unit warrants are each exercisable at C$0.45 for 18 months. The strike prices reflect 48.15% and 66.67% premiums to the Aug. 1 closing share price of C$0.27.
Proceeds will be used for exploration on the Lamaque Property and for working capital.
"The company now has the funds required to continue to execute on both its short- and longer-term objectives," Stephen de Jong, president and chief executive officer, said in a press release.
Based in Vancouver, B.C., Integra is a gold and diamond exploration company.
| Issuer: | Integra Gold Corp.
|
| Issue: | Non-flow-through units of one common share and one warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$3,299,676 (including partial greenshoe exercise)
|
| Greenshoe: | 15%
|
| Warrant expiration: | 18 months
|
| Agents: | Industrial Alliance Securities Inc. (lead), Stonecap Securities Inc. and Euro Pacific Canada
|
| Pricing date: | Aug. 2
|
| Upsized: | Aug. 9
|
| Settlement date: | Aug. 21
|
| Stock symbol: | TSX Venture: ICG
|
| Stock price: | C$0.27 at close Aug. 1
|
| Market capitalization: | C$15.1 million
|
|
|
| Non-flow-through units
|
| Amount: | C$526,311
|
| Units: | 1,949,300
|
| Price: | C$0.27
|
| Warrants: | One warrant per unit
|
| Warrant strike price: | C$0.40
|
|
|
| Flow-through units
|
| Amount: | C$2,773,365
|
| Units: | 8,804,332
|
| Price: | C$0.315
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | C$0.45
|
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