Offering's proceeds are earmarked for advancement of Ana Paula project
By Devika Patel
Knoxville, Tenn., Jan. 31 - Newstrike Capital Inc. said it will conduct a private placement of stock. The company plans to raise C$15.4 million.
The company will sell 14 million common shares at C$1.10 per share on a best-efforts basis. The price per share represents an 11.29% discount to the Jan. 28 closing share price of C$1.24.
The deal will be conducted by an agent syndicate led by GMP Securities LP and including Euro Pacific Canada Inc. and NCP Northland Capital Partners Inc. The agents have a greenshoe for about C$2.3 million.
Settlement is expected Feb. 16.
Proceeds will be used to advance the Ana Paula project and for general corporate purposes.
Vancouver, B.C.-based Newstrike explores gold and silver properties in Mexico.
| Issuer: | Newstrike Capital Inc.
|
| Issue: | Common shares
|
| Amount: | C$15.4 million
|
| Greenshoe: | C$2.3 million (approximate)
|
| Shares: | 14 million
|
| Price: | C$1.10
|
| Warrants: | No
|
| Agents: | GMP Securities LP (lead), Euro Pacific Canada Inc. and NCP Northland Capital Partners Inc.
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 16
|
| Stock symbol: | TSX Venture: NES
|
| Stock price: | C$1.24 at close Jan. 28
|
| Market capitalization: | C$90.16 million
|
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