By Devika Patel
Knoxville, Tenn., Dec. 4 - Tamerlane Ventures Inc. said it has amended the terms of a private placement of units, which is now slated to raise C$1.1 million. The deal priced for C$1.5 million on Nov. 16.
The company will now sell 6,111,111 units of one common share and two half-share warrants at C$0.18 apiece. Each whole warrant will be exercisable for 18 months. The series A warrants have a strike price of at C$0.25 and the series B warrants are exercisable at C$0.32.
Originally, the units only had one series of warrants.
Kingsdale Capital Markets Inc. is the agent and has a 15% greenshoe.
Proceeds will be used for working capital and general corporate purposes.
Tamerlane is a mining company based in Blaine, Wash.
Issuer: | Tamerlane Ventures Inc.
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Issue: | Units of one common share and two half-share warrants
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Amount: | C$1.1 million
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Greenshoe: | 15%
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Units: | 6,111,111
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Price: | C$0.18
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Warrants: | Two half-share warrants per unit
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Warrant expiration: | 18 months
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Warrant strike price: | C$0.25 (series A), C$0.32 (series B)
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Agent: | Kingsdale Capital Markets Inc.
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Pricing date: | Nov. 16
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Amended: | Dec. 4
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Stock symbol: | TSX Venture: TAM
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Stock price: | C$0.17 at close Nov. 16
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Market capitalization: | C$9.94 million
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