By Devika Patel
Knoxville, Tenn., Dec. 16 - Newstrike Capital Inc. said it has arranged a C$2 million non-brokered private placement of units.
The company will sell 5 million units of 0.3 of a common share and 0.7 of a subscription receipt at C$0.40 each. The whole subscription receipts will convert into common stock when the company reactivates as a tier 2 company on the TSX Venture Exchange.
Proceeds will be used to pay down debt, for general working capital and, after the reactivation, for exploration expenses.
Vancouver, B.C.-based Newstrike is acquiring and exploring mineral property interests in Mexico.
| Issuer: | Newstrike Capital Inc.
|
| Issue: | Units of 0.3 of a common share and 0.7 of a subscription receipt
|
| Amount: | C$2 million
|
| Units: | 5 million
|
| Price: | C$0.40
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 16
|
| Stock symbol: | TSX Venture: NES.H
|
| Stock price: | C$0.385 at close Dec. 15
|
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