Haywood, PI Financial helped sell 11,537,500 units at C$1.20 per unit
By Devika Patel
Knoxville, Tenn., July 27 – Regulus Resources Inc. said it completed its C$13.85 million private placement of units. Haywood Securities Inc. and PI Financial Corp. were the agents for the deal, which priced for C$10.02 million with a C$1.5 million greenshoe on July 5 and was increased to C$12 million with a C$1.8 million greenshoe on July 6. The company also raised C$510,000 on a non-brokered basis at the same price.
The company sold 11,537,500 units of one common share and one half-share warrant at C$1.20 per unit on a commercially reasonable-efforts basis in the brokered sale and 425,000 units at the same price in the non-brokered placement.
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.
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.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$14,355,000
|
| Units: | 11,962,500
|
| Price: | C$1.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 42 months
|
| Warrant strike price: | C$1.60
|
| Agents: | Haywood Securities Inc. and PI Financial Corp. (for C$13.85 million), non-brokered (for C$510,000)
|
| Pricing date: | July 5
|
| Upsized: | July 6
|
| Settlement date: | July 27
|
| Stock symbol: | TSX Venture: REG
|
| Stock price: | C$1.35 at close July 4
|
| Market capitalization: | C$77.82 million
|
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