Syndicate of agents helps finance exploration and corporate purposes
By Devika Patel
Knoxville, Tenn., June 7 - Mason Graphite Inc. said it plans a C$5 million private placement of units with a C$750,000 greenshoe.
The company will sell units of one common share and one half-share warrant at C$0.50 per unit and flow-through units of one flow-through common share and one half-share warrant at C$0.55 per unit.
Each whole warrant will be exercisable at C$0.60 for two years. The strike price is a 1.7% premium to the June 6 closing share price of C$0.59.
A syndicate of agents, co-led by Delano Capital Corp. and PowerOne Capital Markets Ltd. and including Macquarie Capital Markets Canada Ltd., Marquest Asset Management Inc. and Stonecap Securities Inc., will conduct the offering on a best-efforts basis.
Settlement is expected on June 30.
Proceeds will be used for exploration on the Lac Gueret property and for general corporate purposes.
The graphite explorer is based in Montreal.
| Issuer: | Mason Graphite Inc.
|
| Issue: | Units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$5 million
|
| Greenshoe: | C$750,000
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.60
|
| Agents: | Delano Capital Corp. and PowerOne Capital Markets Ltd. (co-leads), Macquarie Capital Markets Canada Ltd., Marquest Asset Management Inc. and Stonecap Securities Inc.
|
| Pricing date: | June 7
|
| Settlement date: | June 30
|
| Stock symbol: | TSX Venture: LLG
|
| Stock price: | C$0.59 at close June 6
|
| Market capitalization: | C$32.73 million
|
|
|
| Units
|
| Price: | C$0.50
|
|
|
| Flow-through units
|
| Price: | C$0.55
|
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