By Devika Patel
Knoxville, Tenn., Sept. 3 - Lysander Minerals Corp. announced it increased a private placement of units to C$3.22 million from C$3 million. The deal priced Aug. 25.
The company will now sell 16,075,000 units at C$0.20 apiece. Each unit consists of one common share and a half-share warrant, with each whole warrant exercisable at C$0.30 for two years.
GMP Securities LP is the agent. Settlement is expected Sept. 17.
Proceeds will be used for costs related to the care and maintenance of the Verticalnaya anthracite mine and for general working capital.
The mineral explorer is based in Vancouver, B.C.
| Issuer: | Lysander Minerals Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$3,215,000
|
| Units: | 16,075,000
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Pricing date: | Aug. 25
|
| Upsized: | Sept. 3
|
| Settlement date: | Sept. 17
|
| Stock symbol: | TSX Venture: LYM
|
| Stock price: | C$0.225 at close Aug. 24
|
| Market capitalization: | C$5.99 million
|
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