Deal sells two types of unit at C$0.40 per unit with 18-month warrants
By Devika Patel
Knoxville, Tenn., June 3 - Nighthawk Gold Corp. said it has arranged a C$5 million private placement of units. The deal has a C$500,000 greenshoe.
The company will sell flow-through units of one flow-through common share and a half-share warrant at C$0.40 per unit and units of one common share and a half-share warrant at C$0.40 per unit.
Each whole warrant is exercisable at C$0.50 for 18 months. The strike price is a 25% premium to the June 2 closing share price of C$0.40.
The deal will be conducted on a best efforts basis by a syndicate of agents led by Primary Capital Inc.
Proceeds will be used for exploration of the Indin Lake Gold property and general working capital purposes.
The gold explorer is based in Toronto.
| Issuer: | Nighthawk Gold Corp.
|
| Issue: | Flow-through units of one flow-through common share and a half-share warrant, units of one common share and a half-share warrant
|
| Amount: | C$5 million
|
| Price: | C$0.40
|
| Greenshoe: | C$500,000
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.50
|
| Agent: | Primary Capital Inc. (lead)
|
| Pricing date: | June 3
|
| Stock symbol: | TSX Venture: NHK
|
| Stock price: | C$0.40 at close June 2
|
| Market capitalization: | C$15.02 million
|
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