Offering was announced as C$1.8 million sale in August
By Devika Patel
Knoxville, Tenn., Sept. 8 - North American Gem Inc. said it amended the terms of a non-brokered private placement of units, which will now raise C$1 million. This deal priced for C$1.8 million on Aug. 4.
The company will now sell 12.5 million units of one common share and one warrant at C$0.08 each.
The warrants are each exercisable for three years. The strike price in the first year, C$0.10, reflects a 23.08% discount to the Aug. 3 closing share price of C$0.13. The strike price in the second year, C$0.12, reflects a 7.69% discount, and the strike price in the third year, C$0.15, reflects a 15.39% premium.
Proceeds will be used for general working capital and exploration.
Based in Vancouver, B.C., North American Gem is a mineral resource exploration company.
Issuer: | North American Gem Inc.
|
Issue: | Units of one common share and one warrant
|
Amount: | C$1 million
|
Shares: | 12.5 million
|
Price: | C$0.08
|
Warrants: | One warrant per unit
|
Warrant expiration: | Three years
|
Warrant strike price: | C$0.10 in the first year, C$0.12 in the second year, C$0.15 in the third year
|
Agent: | Non-brokered
|
Pricing date: | Aug. 4
|
Amended: | Sept. 8
|
Stock symbol: | TSX Venture: NAG
|
Stock price: | C$0.13 at close Aug. 4
|
Market capitalization: | C$17.02 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.