Non-brokered offering's proceeds intended for general working capital
By Devika Patel
Knoxville, Tenn., Sept. 21 - Prophecy Resource Corp. said it plans a C$2.03 million non-brokered private placement of units.
The company will sell 4.06 million units at C$0.50 apiece. Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.60 for two years.
The strike price reflects an 11.11% premium to C$0.54, the Sept. 20 closing share price.
Proceeds will be used for general working capital.
The base and precious metal explorer is based in Vancouver, B.C.
| Issuer: | Prophecy Resource Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2.03 million
|
| Units: | 4.06 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.60
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 21
|
| Stock symbol: | TSX Venture: PCY
|
| Stock price: | C$0.52 at close Sept. 21
|
| Market capitalization: | C$34.23 million
|
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