By Devika Patel
Knoxville, Tenn., July 22 - Laurentian Goldfields Ltd. said it has increased a non-brokered private placement of units to C$2.55 million. The deal priced for C$1.68 million on June 22 and the company raised C$1 million on July 7.
The company now plans to sell up to 6.66 million flow-through units at C$0.18 apiece for C$1.2 million. These units each consist of one flow-through common share and one half-share warrant.
The company also will sell up to 9 million non flow-through units at C$0.15 apiece for C$1.35 million. These units consist of one non flow-through common share and one warrant.
The two-year warrants are exercisable at C$0.25 in the first year and at C$0.35 thereafter.
In the first tranche, Laurentian sold 5,555,552 flow-through units.
Proceeds will be used for exploration and general working capital purposes.
Laurentian is a junior mineral exploration and development company based in Vancouver, B.C.
| Issuer: | Laurentian Goldfields Ltd.
|
| Issue: | Units of one flow-through common share and one half-share warrant, units of one non flow-through common share and one warrant
|
| Amount: | C$2,548,800
|
| Agent: | Non-brokered
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25 in the first year, C$0.35 thereafter
|
| Pricing date: | June 22
|
| Upsized: | July 22
|
| Settlement date: | July 7 (for C$1 million)
|
| Stock symbol: | TSX Venture: LGF
|
| Stock price: | C$0.20 at close June 22
|
| Market capitalization: | C$4.2 million
|
|
|
| Flow-through units
|
| Amount: | C$1,198,800
|
| Units: | 6.66 million
|
| Price: | C$0.18
|
| Warrants: | One half-share warrant per unit
|
|
|
|
|
| Non flow-through units
|
| Amount: | C$1.35 million
|
| Units: | 9 million
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
