Non-brokered deal funds gold, copper, silver projects in Argentina
By Devika Patel
Knoxville, Tenn., Aug. 11 - Terreno Resources Corp. said it settled a C$2.74 million non-brokered private placement of units. The deal priced for C$1.5 million on July 15 and was increased to C$2.1 million on July 25.
The company sold 18,264,997 units of one common share and one half-share warrant at C$0.15 per unit. Insiders participated in the offering.
Each whole warrant is exercisable at C$0.25 for two years. The strike price represents a 47.06% premium to C$0.17, the July 14 closing share price.
Proceeds will be applied to the company's gold, copper and silver projects in Argentina and its phosphate and potash projects in Brazil 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 half-share warrant
|
| Amount: | C$2,739,750
|
| Units: | 18,264,997
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | C$0.25
|
| Warrant expiration: | Two years
|
| Agent: | Non-brokered
|
| Pricing date: | July 15
|
| Upsized: | July 25
|
| Settlement date: | Aug. 11
|
| Stock symbol: | TSX Venture: TNO
|
| Stock price: | C$0.17 at close July 15
|
| Market capitalization: | C$5.79 million
|
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