TD Securities has C$6.01 million greenshoe; proceeds fund Lake Giles
By Devika Patel
Knoxville, Tenn., Feb. 9 - Macarthur Minerals Ltd. said it will conduct a private placement on a bought-deal basis via a syndicate of underwriters led by TD Securities Inc. There is a C$6.01 million greenshoe for the C$30.06 million deal.
The company will sell 8.35 million units of one common share and one half-share warrant at C$3.60 apiece. Each whole two-year warrant will be exercisable at C$4.50. The strike price reflects an 18.42% premium to the Feb. 8 closing share price of C$3.80.
Settlement is expected Feb. 24.
Proceeds will be used for development of the company's Lake Giles project in Western Australia and for general corporate purposes.
Based in Vancouver, B.C., Macarthur explores for iron-ore, nickel sulphide mineralization and gold.
| Issuer: | Macarthur Minerals Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$30.06 million
|
| Greenshoe: | C$6,012,000
|
| Units: | 8.35 million
|
| Price: | C$3.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$4.50
|
| Agent: | TD Securities Inc. (lead)
|
| Pricing date: | Feb. 9
|
| Settlement date: | Feb. 24
|
| Stock symbol: | TSX Venture: MMS
|
| Stock price: | C$3.74 at close Feb. 9
|
| Market capitalization: | C$112.16 million
|
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