Non-brokered offering's proceeds earmarked for exploration in Chile
By Devika Patel
Knoxville, Tenn., Nov. 28 - Iron Creek Capital Corp. said it settled a C$3.51 million non-brokered private placement of units. The deal priced for C$3.5 million on Oct. 17.
The company sold 8,785,000 units of one common share and one half-share warrant at C$0.40 per unit.
Each whole two-year warrant will be exercisable at C$0.50 in the first year and at C$0.55 in the second year. The strike prices reflect 25% and 37.5% premiums to the Oct. 14 closing share price of C$0.40.
Proceeds will be used for exploration of the company's mineral projects in Chile and for general working capital.
Iron Creek is a Vancouver, B.C.-based precious and base metals exploration company.
| Issuer: | Iron Creek Capital Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$3,514,000
|
| Units: | 8,785,000
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50 in the first year, C$0.55 in the second
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 17
|
| Settlement date: | Nov. 28
|
| Stock symbol: | TSX Venture: IRN
|
| Stock price: | C$0.40 at close Oct. 14
|
| Market capitalization: | C$9.02 million
|
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