By Laura Lutz
Des Moines, June 13 - Shoreham Resources Ltd. priced a private placement of flow-through shares for C$1.8 million.
The company plans to sell 4 million flow-through shares at C$0.45 each.
Investors will also receive one warrant for every share. Each warrant will be exercisable for one non flow-through share at C$0.65 for 18 months.
Expiry of the warrants may be accelerated to 30 days if the company's shares trade at or above C$0.90 for 10 consecutive trading days.
The placement will be non-brokered.
Proceeds will be used for the company's properties in the Red Lake District of Ontario.
Settlement is expected by June 15.
Shoreham is a Toronto-based mineral exploration company.
| Issuer: | Shoreham Resources Ltd.
|
| Issue: | Flow-through shares
|
| Amount: | C$1.8 million
|
| Shares: | 4 million
|
| Price: | C$0.45
|
| Warrants: | One per share
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.65
|
| Agent: | Non-brokered
|
| Pricing date: | June 13
|
| Stock symbol: | TSX Venture: SMH
|
| Stock price: | C$0.43 at close June 13
|
© 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.
