By Laura Lutz
Des Moines, May 2 - Investissements St-Pierre Inc. plans to conduct a private placement for up to C$4 million, and at least C$1.5 million.
The company intends to sell units of one share and one half-share warrant at C$0.50 per unit. Each whole warrant will be exercisable at C$0.70 for two years.
Desjardins Securities Inc. and Pacific International Securities Inc. will act as agents for most of the placement. A remaining portion will be non-brokered.
Proceeds will be used for exploration, administrative expenses and working capital.
St-Pierre is a capital pool company based in Quebec City, Quebec. The placement will take place alongside its acquisition of seven mining properties, which will constitute is qualifying transaction.
| Issuer: | Investissements St-Pierre Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$4 million (maximum); C$1.5 million (minimum)
|
| Units: | 8 million (maximum); 3 million (minimum)
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.70
|
| Agents: | Desjardins Securities Inc., Pacific International Securities Inc.
|
| Pricing date: | May 2
|
| Stock symbol: | TSX Venture: INP.P
|
| Stock price: | C$0.54 at close May 2
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