By Devika Patel
Knoxville, Tenn., Feb. 5 - Inter-Citic Minerals Inc. said it completed a private placement of stock, raising C$16 million. The deal priced Jan. 10.
The company sold 8 million common shares at C$2.00 apiece.
Wellington West Capital Markets Inc. led a syndicate of underwriters, which included Genuity Capital Markets and Salman Partners Inc.
Proceeds will be used to advance Inter-Citic's Dachang gold project in China and for general corporate purposes.
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: | Common shares
|
| Amount: | C$16 million
|
| Shares: | 8 million
|
| Price: | C$2.00
|
| Warrants: | No
|
| Underwriters: | Wellington West Capital Markets Inc. (lead); Genuity Capital Markets; Salman Partners Inc.
|
| Pricing date: | Jan. 10
|
| Settlement date: | Feb. 5
|
| Stock symbol: | Toronto: ICI
|
| Stock price: | C$2.01 at close Jan. 9
|
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