By Devika Patel
Knoxville, Tenn., Feb. 6 - Radiant Resources Inc. said it plans to raise C$5 million in a private placement of units.
The company intends to sell up to 12.5 million units of one share and one warrant at C$0.40 per unit. Each whole warrant will be exercisable at C$0.75 for 18 months.
Integral Wealth Securities Ltd., the agent, will have a 15% greenshoe and will be paid a 7% cash commission upon closing, along with a number of compensation options equal to 10% of the units sold. Each option is exercisable into one unit at C$0.40 for 18 months. The units will consist of one share and one warrant.
Based in Ottawa, Ont., Radiant is a gold and base metals exploration and development company.
| Issuer: | Radiant Resources Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$5 million
|
| Greenshoe: | 15%
|
| Units: | 12.5 million
|
| Price: | C$0.40
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.75
|
| Agent: | Integral Wealth Securities Ltd.
|
| Fees: | 7% in cash, 10% in options
|
| Pricing date: | Feb. 6
|
| Stock symbol: | TSX Venture: RRS
|
| Stock price: | C$0.40 at close Feb. 5
|
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