Company sells units at C$0.80 apiece; deal to finance working capital
By Devika Patel
Knoxville, Tenn., Dec. 7 - Lucky Strike Resources Ltd. said it plans a non-brokered private placement of units. It will raise C$2.4 million.
The company will sell 3 million units of one common share and a half-share warrant at C$0.80 per unit. Each whole warrant is exercisable at C$1.25 for 18 months.
The strike price is a 34.41% premium to C$0.93, the Dec. 6 closing share price.
Proceeds will be used for general working capital.
The company is based in Coquitlam, B.C., and explores for coal.
| Issuer: | Lucky Strike Resources Ltd.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$2.4 million
|
| Units: | 3 million
|
| Price: | C$0.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.25
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 7
|
| Stock symbol: | TSX Venture: LKY
|
| Stock price: | C$0.93 at close Dec. 6
|
| Market capitalization: | C$6.6 million
|
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