By Sheri Kasprzak
New York, Jan. 17 - Intrepid Minerals Corp. said it intends to raise up to C$4 million in a private placement of units.
The offering includes up to 5 million units at C$0.80 each.
The units consist of one share and one half-share warrant. The full warrants are exercisable at C$1.00 each for one year.
Placement agent Paradigm Capital Inc. has an over-allotment option for up to 1.25 million units.
Proceeds will be used for a feasibility study on the company's Casposo property and exploration on projects 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$4 million (maximum)
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| Units: | 5 million (maximum)
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| Greenshoe: | For up to 1.25 million units
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| Price: | C$0.80
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| Warrants: | One half-share warrant
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| Warrant expiration: | One year
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| Warrant strike price: | C$1.00
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| Placement agent: | Paradigm Capital Inc.
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| Pricing date: | Jan. 17
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| Stock symbol: | Toronto: IAU
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| Stock price: | C$0.81 at close Jan. 17
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