Company sells 14 million units at $0.28 apiece through IBK Capital
By Devika Patel
Knoxville, Tenn., Dec. 23 - Lake Victoria Mining Co., Inc. said it arranged a private placement of units via agent IBK Capital Corp. The deal will raise $3.92 million.
The company will sell 14 million units at $0.28 apiece on a best efforts basis. Each unit consists of one common share and one half-share warrant. The whole warrants are each exercisable at $0.45 for 30 months. The strike price is a 40.63% premium to $0.32, the Dec. 22 closing share price.
The mineral explorer is based in Riverside, Calif.
| Issuer: | Lake Victoria Mining Co., Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $3.92 million
|
| Units: | 14 million
|
| Price: | $0.28
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 30 months
|
| Warrant strike price: | $0.45
|
| Agent: | IBK Capital Corp.
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| Pricing date: | Dec. 23
|
| Stock symbol: | OTCBB: LVCA
|
| Stock price: | $0.32 at close Dec. 22
|
| Market capitalization: | $20.22 million
|
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