By Laura Lutz
Des Moines, April 10 - Inter-Citic Minerals Inc. negotiated a private placement of units for up to C$6,000,400.
The company agreed to sell up to 4.286 million units of one share and one half-share transferable warrant at C$1.40 per unit. Each whole warrant will be exercisable for 18 months, at C$1.95 in the first year and at C$2.25 thereafter.
The agents, a syndicate co-led by Pacific International Securities Inc. and Wellington West Capital Markets Inc., have a greenshoe for up to 1.429 million units, for additional proceeds of up to C$2,000,600.
Proceeds will be used for exploration of the company's Dachang gold property in China and for working capital.
Toronto-based Inter-Citic Minerals is an exploration and development company with properties in the People's Republic of China.
| Issuer: | Inter-Citic Minerals Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$6,000,400
|
| Units: | 4.286 million
|
| Greenshoe: | For 1.429 million units
|
| Price: | C$1.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.95 in the first year; C$2.25 thereafter
|
| Agents: | Pacific International Securities Inc., Wellington West Capital Markets Inc.
|
| Pricing date: | April 10
|
| Stock symbol: | Toronto: ICI
|
| Stock price: | C$1.48 at close April 10
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
