Offering has a C$500,000 greenshoe and is slated to fund exploration
By Devika Patel
Knoxville, Tenn., March 5 - Strike Minerals Inc. said it has increased a private placement of units to C$2 million from C$1.5 million. The deal priced with a C$500,000 greenshoe on Feb. 29.
The company is selling flow-through units of one flow-through common share and a half-share warrant at C$0.15 per unit and units of one common share and a half-share warrant at C$0.125 per unit.
Each whole warrant is exercisable at C$0.20 for 18 months. The strike price is a 21.21% premium to the Feb. 28 closing share price of C$0.165.
The deal is being conducted on a best efforts basis by a syndicate of agents led by Euro Pacific Canada Inc. and including Foundation Markets Inc.
Proceeds will be used for surface exploration programs at the company's Schreiber property, including drilling on the western extension of the Afric gold mineralized zone, and for 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$2 million
|
| Greenshoe: | C$500,000
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.20
|
| Agent: | Euro Pacific Canada Inc. (lead), Foundation Markets Inc.
|
| Pricing date: | Feb. 29
|
| Revised: | March 5
|
| Stock symbol: | TSX Venture: WLV
|
| Stock price: | C$0.165 at close Feb. 28
|
| Market capitalization: | C$14.52 million
|
|
|
| Flow-through units
|
| Price: | C$0.15
|
|
|
| Units
|
| Price: | C$0.125
|
© 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.
