Units will include one share and one warrant
New York, March 26 - Invenio Resources Corp. said it is planning to carry out a C$2.25 million non-brokered private placement of units.
The company intends to sell 18.75 million units at C$0.12 each. Making up each unit will be one share and one share purchase warrant. The warrants will be exercisable at C$0.15 per share in the first year and C$0.22 in the second year. They will expire after two years.
The unit price is a 17% discount to the closing stock price of C$0.145 on March 23. The warrant strike price in the first year is a 3% premium.
Proceeds will be used for a diamond drilling program at the company's Ganes Creek Gold project in Alaska, follow up surface work at its Candle Hills gold project, also in Alaska, and for general working capital.
Invenio is a Vancouver, B.C., exploration company focused on finding gold.
| Issuer: | Invenio Resources Corp.
|
| Issue: | Units of stock and warrants
|
| Amount: | C$2.25 million
|
| Units: | 18.75 million
|
| Price: | C$0.12 each
|
| Warrants: | For 18.75 million shares
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15 in first year, C$0.22 in second year
|
| Agent: | Non-brokered
|
| Announcement date: | March 26
|
| Stock symbol: | TSX Venture: IVO
|
| Stock price: | C$0.145 at close on March 23
|
| Market capitalization: | C$3.23 million
|
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