By Devika Patel
Knoxville, Tenn., Jan. 9 - McVicar Resources Inc. said it intends to raise C$15 million in a private placement of units.
The company will sell units of one share and one half-share warrant at C$2.30 apiece. The warrants' terms will be set at closing.
Research Capital Corp. and CIBC World Markets Inc. will be co-lead agents of a syndicate that also includes GMP Securities LP, Desjardins Securities Inc. and Jennings Capital Inc. The agents will receive a 6.5% cash commission and warrants to acquire an amount of shares equal to 6.5% of the securities sold.
Proceeds will be used to fund the operations and expansion of the company's chemical divisions.
Based in Toronto, McVicar is a mineral exploration and chemical production company.
| Issuer: | McVicar Resources Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$15 million
|
| Price: | C$2.30
|
| Warrants: | One half-share warrant per unit
|
| Agents: | Research Capital Corp., CIBC World Markets Inc. (co-leads), GMP Securities LP, Desjardins Securities Inc., Jennings Capital Inc.
|
| Fees: | 6.5% in cash and warrants
|
| Pricing date: | Jan. 9
|
| Stock symbol: | TSX Venture: MCV
|
| Stock price: | C$2.30 at close Jan. 8
|
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