Brokered offering with C$3 million greenshoe will finance development
By Devika Patel
Knoxville, Tenn., Dec. 8 - Redhawk Resources, Inc. said it revised the terms of a private placement of units that priced for C$20.01 million on Nov. 21. The company now plans to raise C$20 million.
It will now sell 26,667,000 units at C$0.75 apiece. The price per share is a 13.79% discount to the Nov. 22 closing share price of C$0.87. The company originally planned to sell 25.65 million common shares at C$0.78 apiece, a 10.35% discount to the Nov. 22 share price.
The deal will be conducted by a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. and including GMP Securities LP, Byron Securities Ltd. and Primary Capital Inc. The agents have a C$3 million greenshoe.
Settlement is expected Dec. 21.
Proceeds will be used to develop the Copper Creek Property and for general working capital purposes.
Based in Vancouver, B.C., Redhawk is a mineral explorer.
| Issuer: | Redhawk Resources, Inc.
|
| Issue: | Common shares
|
| Amount: | C$20,000,250
|
| Greenshoe: | C$3,000,038
|
| Units: | 26,667,000
|
| Price: | C$0.75
|
| Warrants: | No
|
| Agent: | Macquarie Capital Markets Canada Ltd. (lead), GMP Securities LP, Byron Securities Ltd. and Primary Capital Inc.
|
| Pricing date: | Nov. 23
|
| Revised: | Dec. 8
|
| Settlement date: | Dec. 21
|
| Stock symbol: | TSX Venture: RDK
|
| Stock price: | C$0.87 at close Nov. 22
|
| Market capitalization: | C$84.34 million
|
© 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.
