By Laura Lutz
Washington, Feb. 16 - Niblack Mining Corp. increased the size of its previously announced private placement of units to C$11.05 million from C$9.69 million.
The company now plans to sell 13 million units of one share and one half-share transferable warrant at C$0.85 per unit. Each whole warrant will be exercisable at C$1.25 for 18 months.
A syndicate led by Pacific International Securities Inc. and including Haywood Securities Inc. and Salman Partners Inc. will act as agents for C$8.5 million of the offering. The remaining C$2.55 million of the deal will be non-brokered.
When the placement priced on Feb. 5, the non-brokered portion was expected to be C$1.19 million. The size of the brokered portion has not changed.
The agents have a greenshoe for up to 5 million units, for additional proceeds of up to C$4.25 million.
Proceeds will be used for exploration and working capital.
Niblack is a Vancouver, B.C.-based mineral exploration and development company.
| Issuer: | Niblack Mining Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$11.05 million
|
| Units: | 13 million
|
| Greenshoe: | 5 million units
|
| Price: | C$0.85
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.25
|
| Agents: | Pacific International Securities Inc. (lead), Haywood Securities Inc, Salman Partners Inc.
|
| Pricing date: | Feb. 5
|
| Upsized: | Feb. 16
|
| Stock symbol: | TSX Venture: NIB
|
| Stock price: | C$0.90 at close Feb. 5
|
| Stock price: | C$0.85 at close Feb. 16
|
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