By Sheri Kasprzak
New York, July 25 - Northern Sun Exploration Co. Inc. upsized to C$4.4 million its previously announced C$4 million PIPE.
The company now plans to sell 2.5 million non flow-through units at C$0.50 each and up to 5,727,273 flow-through units at C$0.55 each.
Both the flow-through and non flow-through units consist of one share and one warrant. Each warrant is exercisable at C$0.85 for 18 months.
The non-brokered deal priced on June 27 as a C$4 million offering of 2 million non flow-through units and 5,454,545 flow-through units.
Proceeds will be used for exploration on properties in Alberta, Saskatchewan and the Northwest Territories.
Vancouver, B.C.-based Northern Sun is a mineral exploration company.
| Issuer: | Northern Sun Exploration Co. Inc.
|
| Issue: | Flow-through and non flow-through units of one share and one warrant
|
| Amount: | C$4.4 million
|
| Placement agent: | Non-brokered
|
| Pricing date: | June 27
|
| Upsized: | July 25
|
| Stock symbol: | TSX Venture: NSE
|
| Stock price: | C$0.47 at close June 26
|
| Stock price: | C$0.44 at close July 25
|
|
|
| Flow-through units
|
| Units: | 5,727,273
|
| Price: | C$0.55
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.85
|
|
|
| Non flow-through units
|
| Units: | 2.5 million
|
| Price: | C$0.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.85
|
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