Haywood, PI Financial help sell 10 million units at C$1.20 per unit
By Devika Patel
Knoxville, Tenn., July 6 – Regulus Resources Inc. said it increased its private placement of units to C$12 million with a C$1.8 million greenshoe from C$10.02 million with a C$1.5 million greenshoe. Haywood Securities Inc. and PI Financial Corp. are the agents for the deal, which priced Tuesday.
The company will now sell 10 million units of one common share and one half-share warrant at C$1.20 per unit on a commercially reasonable-efforts basis.
Each whole warrant is exercisable at C$1.60 for 42 months. The strike price is an 18.52% premium to the July 4 closing share price of C$1.35.
Settlement is expected July 26.
Proceeds will be used to advance the AntaKori copper-gold project in Peru and for general working capital purposes.
Regulus is a Waterdown, Ont., iron, copper, silver and gold explorer.
| Issuer: | Regulus Resources Inc.
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| Issue: | Units of one common share and a half-share warrant
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| Amount: | C$12 million
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| Greenshoe: | C$1.8 million, or 1.5 million units
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| Units: | 10 million
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| Price: | C$1.20
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 42 months
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| Warrant strike price: | C$1.60
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| Agents: | Haywood Securities Inc. and PI Financial Corp.
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| Pricing date: | July 5
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| Upsized: | July 6
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| Settlement date: | July 26
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| Stock symbol: | TSX Venture: REG
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| Stock price: | C$1.35 at close July 4
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| Market capitalization: | C$73.31 million
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