Offering was oversubscribed by 4 million units, company director says
By Devika Patel
Knoxville, Tenn., Dec. 3 - Invenio Resources Corp. said it settled an oversubscribed private placement of units. The deal raised C$2.27 million.
Invenio sold 12,626,445 units of one common share and one half-share warrant at C$0.18 per unit.
Each whole warrant is exercisable at C$0.25 for two years. The strike price represents a 3.85% discount to the Dec. 2 closing share price of C$0.26.
"We are pleased with the level of demand for the financing, which was oversubscribed by over 4 million units. The financing is a positive step towards enabling the company to move forward with its plans," director Allan Williams said in a press release.
Based in Vancouver, B.C., Invenio is a natural resource exploration company.
| Issuer: | Invenio Resources Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2,272,760
|
| Units: | 12,626,445
|
| Price: | C$0.18
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Settlement date: | Dec. 3
|
| Stock symbol: | TSX Venture: IVO
|
| Stock price: | C$0.26 at close Dec. 3
|
| Market capitalization: | C$2.43 million
|
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