By Sheri Kasprzak
New York, Nov. 16 - Revett Minerals Inc. priced a C$12,995,000 private placement.
The offering includes up to 11.5 million units at C$1.13 each.
The units consist of one share and one quarter-share warrant. Each whole warrant is exercisable at C$1.36 for 30 months.
The expiry of the warrants will be accelerated to 30 days if the company's stock trades above C$2.00 for more than 15 consecutive trading days.
The deal is expected to close Nov. 22.
Strata Partners LLC was the lead agent for the deal.
Proceeds will be used for the advancement of the company's Rock Creek project.
Based in Spokane, Wash., Revett is a mineral exploration company focused on copper.
Issuer: | Revett Minerals Inc.
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Issue: | Units of one share and one quarter-share warrant
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Amount: | C$12,995,000
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Units: | 11.5 million
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Price: | C$1.13
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Warrants: | One quarter-share warrant per unit
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Warrant expiration: | 30 months
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Warrant strike price: | C$1.36
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Placement agent: | Strata Partners LLC (lead)
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Pricing date: | Nov. 16
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Settlement date: | Nov. 22
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Stock symbol: | Toronto: RVM
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Stock price: | C$1.25 at close Nov. 16
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