Non-brokered deal funds exploration, acquisitions and working capital
By Devika Patel
Knoxville, Tenn., July 13 - Strike Minerals Inc. said it revised the terms of a C$1 million non-brokered private placement of units that priced June 20.
The company will now sell 8,235,294 flow-through units of one flow-through common share and a half-share warrant at C$0.085 per unit and 4,615,385 units of one common share and a half-share warrant at C$0.065 per unit.
The flow-through units originally were priced at C$0.09 per unit and the units originally were priced at C$0.07 per unit.
Each whole warrant is exercisable at C$0.12 for one year. The strike price is a 71.43% premium to the June 17 closing share price of C$0.07.
Foundation Markets Inc. is a finder.
Proceeds will be used for exploration, acquisitions and general working capital purposes.
Strike Minerals is a London, Ont., mineral explorer with a focus on gold.
| Issuer: | Strike Minerals Inc.
|
| Issue: | Flow-through units of one flow-through common share and a half-share warrant, units of one common share and a half-share warrant
|
| Amount: | C$1 million
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.12
|
| Agent: | Non-brokered
|
| Pricing date: | June 20
|
| Revised: | July 13
|
| Stock symbol: | TSX Venture: STK
|
| Stock price: | C$0.07 at close June 20
|
| Market capitalization: | C$3.76 million
|
|
|
| Flow-through units
|
| Amount: | C$700,000
|
| Units: | 8,235,294
|
| Price: | C$0.085
|
|
|
| Units
|
| Amount: | C$300,000
|
| Units: | 4,615,385
|
| Price: | C$0.065
|
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