Company to use deal's proceeds to acquire Changyun coal mine in China
By Devika Patel
Knoxville, Tenn., Sept. 23 - Lucky Strike Resources Ltd. said it will sell 6 million units in a C$1.5 million non-brokered private placement.
The units consist of one common share and a half-share warrant and are being sold at C$0.25 apiece. Each whole warrant is exercisable at C$0.40 for 18 months.
The strike price is a 81.82% premium to C$0.22, the Sept. 22 closing share price.
Proceeds will be used for the company's acquisition of the Changyun coal mine in Guizhou Province, China, and for general working capital.
Lucky Strike is a natural resources company based in Coquitlam, B.C., with a focus on coal.
| Issuer: | Lucky Strike Resources Ltd.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 6 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 23
|
| Stock symbol: | TSX Venture: LKY
|
| Stock price: | C$0.22 at close Sept. 22
|
| Market capitalization: | C$1.53 million
|
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