Company sells 2,666,667 flow-through common shares at C$0.60 apiece
By Devika Patel
Knoxville, Tenn., Dec. 14 - International Enexco Ltd. said it concluded a C$1.6 million non-brokered private placement of stock. The deal priced for C$960,000 on Nov. 16.
The company sold 2,666,667 flow-through common shares at C$0.60 each. The price per share represents a 30.44% premium to the Nov. 15 closing share price of C$0.46.
Proceeds will be used for Enexco's portion of a C$6 million exploration program at the Mann Lake uranium property in Saskatchewan, to complete a bankable feasibility study at the company's Contact copper project in Nevada and for general working capital purposes.
International Enexco is a uranium and copper explorer based in Vancouver, B.C.
| Issuer: | International Enexco Ltd.
|
| Issue: | Flow-through common stock
|
| Amount: | C$1.6 million
|
| Shares: | 2,666,667
|
| Price: | C$0.60
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 16
|
| Settlement date: | Dec. 14
|
| Stock symbol: | TSX Venture: IEC
|
| Stock price: | C$0.46 at close Nov. 15
|
| Market capitalization: | C$19.41 million
|
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