By Sheri Kasprzak
Atlanta, March 17 - North American Tungsten Corp. Ltd. has increased the size of its previously announced C$6.25 million private placement to C$8.25 million.
The company will now sell 14 million units at C$0.50 each.
The units include one share and one half-share warrant. The whole warrants are exercisable at C$0.60 each for two years.
The company will also sell 2.5 million flow-through shares at C$0.50 each.
The deal was first announced March 16 as a C$6.25 million offering of 10 million units. The number of flow-through shares has not changed.
An underwriting syndicate led by Sprott Securities Inc. and Haywood Securities Inc. has a greenshoe for up to 4.5 million additional units.
The offering is expected to close March 30.
Based in Vancouver, B.C., North American Tungsten acquires, develops and mines minerals, especially tungsten.
Issuer: | North American Tungsten Corp. Ltd.
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Issue: | Units of one share and one half-share warrant; flow-through shares
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Amount: | C$8.25 million
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Underwriters: | Sprott Securities Inc. (lead); Haywood Securities Inc. (lead)
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Pricing date: | March 16
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Upsized: | March 16
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Settlement date: | March 30
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Stock price: | C$0.67 at close March 16
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Units
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Issue: | Units of one share and one half-share warrant
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Units: | 14 million
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Greenshoe: | Up to 4.5 million units
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Price: | C$0.50
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.60
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Flow-through shares
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Issue: | Flow-through shares
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Shares: | 2.5 million
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Price: | C$0.50
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Warrants: | No
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