Deal sells two types of unit at C$0.40 per unit with 18-month warrants
By Devika Patel
Knoxville, Tenn., June 6 – Nighthawk Gold Corp. said it increased its private placement of units to C$8 million from C$5 million. The deal has a C$500,000 greenshoe and priced on Tuesday.
The company is selling 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 is being conducted on a best efforts basis by a syndicate of agents led by Primary Capital Inc.
Settlement is expected June 25.
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
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| Amount: | C$8 million
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| Greenshoe: | C$500,000
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| Price: | C$0.40
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.50
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| Agent: | Primary Capital Inc. (lead)
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| Pricing date: | June 3
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| Upsized: | June 6
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| Settlement date: | June 25
|
| Stock symbol: | TSX Venture: NHK
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| Stock price: | C$0.40 at close June 2
|
| Market capitalization: | C$18.78 million
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