By Devika Patel
Knoxville, Tenn., July 10 - Raytec Metals Corp. said it completed a private placement of units and shares, raising C$25 million. The deal priced for C$17 million with a C$8 million greenshoe on June 12.
The company sold 14,166,700 units at C$1.20 apiece for C$17 million. Of the units, 4,166,700 were part of the fully exercised greenshoe.
Each unit consists of one common share and one warrant. Each warrant is at C$1.60 for two years.
Raytec also sold 5,714,400 flow-through common shares at C$1.40 per share for C$8 million. Of the shares, 2,142,900 were part of the fully exercised greenshoe.
The deal was conducted by a syndicate of agents led by Canaccord Capital Corp. and including Integral Wealth Services Ltd.
Proceeds will be used for general exploration expenditures, the advancement of the company's mineral assets and for general working capital purposes.
Based in Vancouver, B.C., Raytec distributes perishable control systems for the retail and wholesale grocery industry.
| Issuer: | Raytec Metals Corp.
|
| Issue: | Units of one common share and one warrant, flow-through common shares
|
| Amount: | C$25,000,200 (including C$8 million greenshoe)
|
| Agent: | Canaccord Capital Corp. (lead), Integral Wealth Services Ltd.
|
| Pricing date: | June 12
|
| Settlement date: | July 10
|
| Stock symbol: | TSX Venture: RAY
|
| Stock price: | C$1.82 at close June 11
|
|
|
| Units
|
| Amount: | C$17,000,040
|
| Units: | 14,166,700
|
| Price: | C$1.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.60
|
|
|
| Shares
|
| Amount: | C$8,000,160
|
| Shares: | 5,714,400
|
| Price: | C$1.40
|
| Warrants: | No
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
