By Sheri Kasprzak
New York, Aug. 1 - New Cantech Ventures Inc. has completed a private placement for C$1.2 million.
The company sold 6,333,333 flow-through units at C$0.15 each and 1,666,667 non flow-through units at C$0.15 each. In addition, placement agent Canaccord Capital Corp. exercised an over-allotment option for 1,333,333 units.
The units consist of one share and one half-share warrant. The whole warrants allow for the purchase of an additional share at C$0.20 each for two years.
New Cantech had originally planned to sell 6,666,667 units in the brokered portion of the deal under the same terms.
On July 22, the company added a non-brokered portion for up to 1.5 million units under the same terms. The non-brokered portion is expected to close in the coming days.
Based in White Rock, B.C., New Cantech is a mineral exploration company. The proceeds from both the brokered and non-brokered offerings will be used to advance the company's Lucky Ship molybdenum property in Houston, B.C.
| Issuer: | New Cantech Ventures Inc.
|
| Issue: | Flow-through and non flow-through units of one share and one half-share warrant
|
| Amount: | C$1.2 million
|
| Units: | 8 million (includes greenshoe for 1,333,333 units)
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Placement agent: | Canaccord Capital Corp.
|
| Pricing date: | July 5
|
| Settlement date: | July 29
|
| Stock price: | C$0.20 at close July 5
|
| Stock price: | C$0.18 at close July 29
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
