Deal funds exploration, Lamaque property expenditures, working capital
By Devika Patel
Knoxville, Tenn., Dec. 18 - Integra Gold Corp. said it raised C$4.08 million in the first tranche of its C$4.5 million non-brokered private placement of stock and units. The deal priced on Dec. 9 and has confirmation for C$3.1 million, the company said in a press release at pricing. It was increased from C$3.5 million on Dec. 17.
The company is selling flow-through common shares at C$0.26 and C$0.20 apiece and units of one common share and a half-share warrant at C$0.17 per unit on a best-efforts basis.
The whole warrants are exercisable at C$0.26 for 18 months. The strike price is a 44.44% premium to the Dec. 6 closing price of C$0.18. The prices per flow-through share are also a 44.44% premium and an 11.11% premium to that price.
In the first tranche, the company sold 14,031,539 flow-through shares at C$0.26 per share, 1,225,000 flow-through shares at C$0.20 per share and 1,112,350 units.
Settlement of the final tranche is expected Jan. 30.
Proceeds will be used for exploration, expenditures on the company's Lamaque property and general working capital.
Based in Vancouver, B.C., Integra is a gold and diamond exploration company.
| Issuer: | Integra Gold Corp.
|
| Issue: | Flow-through common shares, units of one common share and a half-share warrant
|
| Amount: | C$4.5 million
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 9
|
| Upsized: | Dec. 17
|
| Settlement dates: | Dec. 18 (for C$4,082,300), Jan. 30
|
| Stock symbol: | TSX Venture: ICG
|
| Stock price: | C$0.18 at close Dec. 6
|
| Market capitalization: | C$18.38 million
|
|
|
| Shares
|
| Price: | C$0.26, C$0.20
|
| Warrants: | No
|
|
|
| Units
|
| Price: | C$0.17
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.26
|
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