Deal sells units of flow-through shares, half-share warrants at C$0.45
By Devika Patel
Knoxville, Tenn., May 19 – TerraX Minerals Inc. said it plans a C$3.47 million non-brokered private placement of units.
The company will sell 7.7 million units of one flow-through common share and a half-share warrant at C$0.45 per unit.
Each whole warrant will be exercisable at C$0.55 for three years. The strike price reflects a 37.5% premium to the May 18 closing share price of C$0.40.
Proceeds will be used for an extensive exploration program on the Yellowknife City gold project.
TerraX is a Vancouver, B.C., gold and diamond explorer.
| Issuer: | TerraX Minerals Inc.
|
| Issue: | Units of one flow-through common share and a half-share warrant
|
| Amount: | C$3,465,000
|
| Units: | 7.7 million
|
| Price: | C$0.45
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.55
|
| Agent: | Non-brokered
|
| Pricing date: | May 19
|
| Stock symbol: | TSX Venture: TXR
|
| Stock price: | C$0.40 at close May 18
|
| Market capitalization: | C$20.26 million
|
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