By Sheri Kasprzak
New York, March 30 - Acadian Gold Corp. priced a C$10 million private placement of units and flow-through shares.
The deal includes 18 million units of one share and one half-share warrant at C$0.50 each and 1,538,462 flow-through shares at C$0.65 each.
The whole warrants associated with the deal are exercisable at C$0.65 each for 18 months.
A syndicate of underwriters led by Northern Securities Inc. and including Canaccord Capital Corp. conducted the private placement.
The deal is scheduled to close on April 24.
Proceeds will be used to complete the company's acquisition of ScoZinc Ltd. The rest will be used for exploration and general corporate purposes.
Acadian plans to buy the outstanding shares of ScoZinc from HudBay Minerals Inc. for C$7.5 million
Acadian, based in Halifax, N.S., is a gold exploration company.
| Issuer: | Acadian Gold Corp.
|
| Issue: | Flow-through shares and units of one share and one half-share warrants
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| Amount: | C$10 million
|
| Underwriters: | Northern Securities Inc. (lead), Canaccord Capital Corp.
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| Pricing date: | March 30
|
| Settlement date: | April 24
|
| Stock symbol: | TSX Venture: ADA
|
| Stock price: | C$0.57 at close March 30
|
|
|
| Units
|
| Units: | 18 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.65
|
|
|
| Flow-through shares
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| Shares: | 1,538,462
|
| Price: | C$0.65
|
| Warrants: | No
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