By Devika Patel
Knoxville, Tenn., July 22 - Newstrike Capital Inc. said it has completed the first tranche of a C$5 million non-brokered private placement of units for C$3.66 million. The deal priced June 23.
The company is selling 12.5 million units of one common share and a half-share warrant at C$0.40 per unit. It sold 9,145,000 units in this tranche. The whole warrants are exercisable at C$0.80 for 18 months.
Proceeds will be used for exploration and general working capital.
Vancouver, B.C.-based Newstrike is acquiring and exploring mineral property interests in Mexico.
| Issuer: | Newstrike Capital Inc.
|
| Issue: | Units of a common share and a half-share warrant
|
| Amount: | C$5 million
|
| Units: | 12.5 million
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.80
|
| Agent: | Non-brokered
|
| Pricing date: | June 23
|
| Settlement date: | July 22 (for C$3,658,000)
|
| Stock symbol: | TSX Venture: NES.H
|
| Stock price: | C$0.42 at close June 22
|
| Market capitalization: | C$26.81 million
|
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