Non-brokered deal sells units of a share, a warrant at C$0.12 apiece
By Devika Patel
Knoxville, Tenn., July 22 – Teras Resources Inc. said it settled a C$1.14 million non-brokered private placement of units on July 22. The deal priced for C$800,000 on July 5 and was since increased.
The company sold 9,454,332 units of one common share and one warrant at C$0.12 per unit. The warrants are each exercisable at C$0.24 for two years. The strike price reflects a 60% premium to the July 4 closing share price of C$0.15.
Proceeds will be used for maintaining and advancing the Cahuilla project and for general working capital.
Teras is gold, silver and quartz mining company based in Calgary, Alta.
| Issuer: | Teras Resources Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,134,520
|
| Units: | 9,454,332
|
| Price: | C$0.12
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.24
|
| Agent: | Non-brokered
|
| Pricing date: | July 5
|
| Upsized: | July 22
|
| Settlement date: | July 22
|
| Stock symbol: | TSX Venture: CAP
|
| Stock price: | C$0.15 at close July 4
|
| Market capitalization: | C$19.51 million
|
© 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.
