By Sheri Kasprzak
New York, July 6 - New Cantech Ventures Inc. said it plans to raise up to C$1 million in a private placement.
The offering includes up to 6,666,667 units at C$0.15 each. Up to 5 million of the units will be sold on a flow-through basis, and the remaining 1,666,667 will be sold on a non flow-through basis.
The flow-through units include one share and one half-share warrant. The whole warrants allow for an additional share at C$0.20 each for two years.
The non flow-through units include one share and one warrant. The warrants allow for an additional share at C$0.20 each for two years.
Placement agent Canaccord Capital Corp. has an over-allotment option for up to 1,333,333 additional units.
The proceeds will be used to advance the company's Lucky Ship molybdenum property in Houston, B.C.
Based in White Rock, B.C., New Cantech is a mineral exploration company.
| Issuer: | New Cantech Ventures Inc.
|
| Issue: | Flow-through units of one share and one half-share warrant; non flow-through units of one share and one warrant
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| Amount: | C$1 million (maximum)
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| Placement agent: | Canaccord Capital Corp.
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| Greenshoe: | For up to 1,333,333 units
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| Pricing date: | July 5
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| Stock price: | C$0.20 at close July 5
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| Flow-through units
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| Issue: | Flow-through units of one share and one half-share warrant
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| Units: | 5 million (maximum)
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| Price: | C$0.15
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.20
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| Common share units
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| Issue: | Non flow-through units of one share and one warrant
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| Units: | 1,666,667
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| Price: | C$0.15
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.20
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