By Sheri Kasprzak
New York, Oct. 3 - Intrepid Minerals Corp. said it has priced a private placement for up to C$3 million.
The company intends to sell up to 5 million units at C$0.60 each on a non-brokered basis.
The units are comprised of one share and one half-share warrant. The whole warrants are exercisable at C$0.75 each for 18 months.
The company may choose to issue up to 1,666,667 additional units.
Proceeds will be used for drilling programs on the company's Casposo project in Argentina and El Salvador. The rest will be used for working capital.
Toronto-based Intrepid is a mineral exploration, acquisition and development company.
| Issuer: | Intrepid Minerals Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$3 million (maximum)
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| Units: | 5 million (maximum)
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| Greenshoe: | For up to 1,666,667 units
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| Price: | C$0.60
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.75
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| Pricing date: | Oct. 3
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| Stock price: | C$0.62 at close Oct. 3
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