Non-brokered deal to fund Amarillo project, general working capital
By Devika Patel
Knoxville, Tenn., Sept. 28 - Terreno Resources Corp. said it increased a non-brokered private placement of units to 23,333,333 units from 16,666,667 units. The deal priced for C$2.5 million on Sept. 20.
The company will now raise C$3.5 million by selling the units at C$0.15 apiece. Each unit consists of one common share and one warrant. Each warrant is exercisable at C$0.20 for two years.
The strike price represents a 9.09% discount to the C$0.22 closing share price on Sept. 16.
Proceeds will be applied to the company's Amarillo project in the San Juan province of Argentina in addition to general working capital.
The natural resource company is based in Vancouver, B.C.
| Issuer: | Terreno Resources Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3.5 million
|
| Units: | 23,333,333
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant strike price: | C$0.20
|
| Warrant expiration: | Two years
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 20
|
| Upsized: | Sept. 28
|
| Stock symbol: | TSX Venture: TNO
|
| Stock price: | C$0.22 at close Sept. 17
|
| Market capitalization: | C$14.2 million
|
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