By Sheri Kasprzak
Atlanta, Feb. 16 - Linear Gold Corp. said it has completed a C$25 million private placement of units.
The deal included 3,225,808 units at C$7.75 each, 645,162 of which were sold through an over-allotment option. The units are comprised of one share and one quarter-share warrant.
The whole warrants allow for an additional share at C$8.50 each for one year.
The offering was placed through an underwriting syndicate led by Sprott Securities Inc. and Orion Securities Inc., and including Haywood Securities Inc., Fort House Inc., Jennings Capital Inc. and Pacific International Securities Inc.
Linear, based in Halifax, N.S., is a gold exploration and acquisition company. It plans to use the proceeds for the advancement of its Ixhuatan property, the acquisition and exploration of other properties and general corporate purposes.
| Issuer: | Linear Gold Corp.
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| Issue: | Units of one share and one quarter-share warrant
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| Amount: | C$25 million
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| Units: | 3,225,808 (includes greenshoe for 645,162)
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| Price: | C$7.75
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| Warrants: | One quarter-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$8.50
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| Underwriters: | Orion Securities Inc. (lead); Sprott Securities Inc. (lead); Haywood Securities Inc., Fort House Inc., Jennings Capital Inc., Pacific International Securities Inc.
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| Settlement date: | Feb. 15
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| Stock price: | C$7.80 at close Feb. 15
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