Kingsdale Capital Markets is agent; proceeds fund project exploration
By Devika Patel
Knoxville, Tenn., Feb. 6 - Teslin River Resources Corp. said it plans a C$2 million private placement of units. Kingsdale Capital Markets Inc. will be the agent.
The company will sell 10 million flow-through units of one flow-through common share and a half-share warrant at C$0.12 per unit. It also will sell 8 million units of one common share and a half-share warrant at C$0.10 per unit.
Each whole warrant is exercisable for 18 months. The strike price of the flow-through unit warrants, C$0.18, reflects a 157.14% premium to the Feb. 3 closing share price of C$0.07. The strike price of the unit warrants, C$0.15, is a 114.29% premium to that price.
Proceeds will be used for the company's exploration and drilling program on the Frasergold project, exploration on its Nevada properties and general working capital purposes.
The copper and gold explorer is based in Vancouver, B.C.
| Issuer: | Teslin River Resources Corp.
|
| Issue: | Flow-through units of one flow-through common share and a half-share warrant, units of one common share and a half-share warrant
|
| Amount: | C$2 million
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Agent: | Kingsdale Capital Markets Inc.
|
| Pricing date: | Feb. 6
|
| Stock symbol: | TSX Venture: TLR
|
| Stock price: | C$0.07 at close Feb. 3
|
| Market capitalization: | C$3.63 million
|
|
|
| Flow-through units
|
| Amount: | C$1.2 million
|
| Units: | 10 million
|
| Price: | C$0.12
|
| Warrant strike price: | C$0.18
|
|
|
| Units
|
| Amount: | C$800,000
|
| Units: | 8 million
|
| Price: | C$0.10
|
| Warrant strike price: | C$0.15
|
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