By Laura Lutz
Des Moines, March 14 - Acadian Gold Corp. negotiated a private placement of units for C$16,012,500.
The company plans to sell 15.25 million units of one share and one half-share warrant at C$1.05 per unit. Each whole warrant will be exercisable at C$1.35 for 18 months.
The underwriters, led by Northern Securities Inc., have a greenshoe for up to 1.9 million more units for additional proceeds of up to C$1.995 million.
Proceeds will be used to advance the company's zinc-lead mine and for general corporate purposes.
Acadian is a gold and zinc mining company based in Halifax, N.S.
| Issuer: | Acadian Gold Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$16,012,500
|
| Units: | 15.25 million
|
| Greenshoe: | For 1.9 million units
|
| Price: | C$1.05
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.35
|
| Underwriter: | Northern Securities Inc. (lead)
|
| Pricing date: | March 14
|
| Stock symbol: | TSX Venture: ADA
|
| Stock price: | C$1.20 at close March 13
|
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