Offering funds exploration; deal sells flow-through shares at C$0.27
By Devika Patel
Knoxville, Tenn., Dec. 19 – Avalon Rare Metals Inc. said it settled a C$2.43 million non-brokered private placement of stock with Goldcorp Inc.
The company sold 8,981,781 flow-through common shares at C$0.27 apiece. The price per share is a 22.73% premium to the Dec. 18 closing share price of C$0.22.
Secutor Capital Management Corp. was paid a 6% finder's fee in cash and warrants.
Proceeds will be used for exploration.
Avalon is a tin, lithium, tantalum, niobium, cesium, indium, gallium, zirconium and calcium feldspar exploration and development company in Toronto.
| Issuer: | Avalon Rare Metals Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$2,425,081
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| Shares: | 8,981,781
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| Price: | C$0.27
|
| Warrants: | No
|
| Agent: | Non-brokered
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| Settlement date: | Dec. 19
|
| Stock symbol: | Toronto: AVL
|
| Stock price: | C$0.22 at close Dec. 18
|
| Market capitalization: | C$25.72 million
|
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