Deal sells units of one class A share, one warrant at C$0.15 per unit
By Devika Patel
Knoxville, Tenn., Sept. 24 - Ressources Minieres Pro-Or Inc. said it reduced its private placement of units to C$2,295,000 from C$2.3 million. Euro Pacific Canada Inc. will be the agent for the deal, which priced July 10.
The company will sell units of one class A share and one warrant at C$0.15 per unit. The units originally consisted of 20,000 class A shares and warrants for 20,000 shares and were to be sold at C$4,600.00 per unit.
The three-year warrants will each be exercisable at C$0.30, a 25% premium to C$0.24, the July 9 closing share price. Originally, the units had one-year warrants which would have been exercisable at C$0.35.
Proceeds will be used to support ongoing operations at the St-Augustin plant with a 50-ton reactor, perform detailed engineering and automation for the four new reactors, purchase long-lead-time components and set up the new plant, as well as for general corporate purposes.
Pro-Or is a mining and exploration company based in Montreal.
| Issuer: | Ressources Minieres Pro-Or Inc.
|
| Issue: | Units of one class A share and one warrant
|
| Amount: | C$2,295,000
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.30
|
| Agent: | Euro Pacific Canada Inc. (lead)
|
| Pricing date: | July 10
|
| Revised: | Sept. 24
|
| Stock symbol: | TSX Venture: POI
|
| Stock price: | C$0.24 at close July 9
|
| Market capitalization: | C$8.4 million
|
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