Deal offers two types of unit, finances drilling and working capital
By Devika Patel
Knoxville, Tenn., Nov. 27 - Invenio Resources Corp. said it plans a C$1.94 million non-brokered private placement of units.
The company will sell 6.5 million units of one common share and one warrant at C$0.065 per unit and 19 million flow-through units of one flow-through common share and one half-share warrant at C$0.08 per unit.
The two-year unit warrants will be exercisable at C$0.085 in the first year and at C$0.11 in the second year. The strike prices are 41.67% and 83.33% premiums to the Nov. 26 closing share price of C$0.06.
The one-year flow-through unit warrants will be exercisable at C$0.10, a 66.67% premium to the Nov. 26 closing price.
Proceeds will be used for drilling two oil wells in Southeast Saskatchewan and general working capital.
Invenio is a Vancouver, B.C., exploration company focused on finding gold.
| Issuer: | Invenio Resources Corp.
|
| Issue: | Units of one common share and one warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$1,942,500
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 27
|
| Stock symbol: | TSX Venture: DVV
|
| Stock price: | C$0.06 at close Nov. 26
|
| Market capitalization: | C$1.34 million
|
|
|
| Units
|
| Amount: | C$422,500
|
| Units: | 6.5 million
|
| Price: | C$0.065
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.085 in the first year, C$0.11 in the second year
|
|
|
| Flow-through units
|
| Amount: | C$1.52 million
|
| Units: | 19 million
|
| Price: | C$0.08
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.10
|
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