Non-brokered offering to fund exploration, development of properties
By Devika Patel
Knoxville, Tenn., Dec. 20 - Tigris Uranium Corp. said it increased a non-brokered private placement of units. The deal priced for C$3 million on Dec. 15 and will now raise C$4.2 million.
The company will now sell 10.5 million units of one common share and one half-share warrant at C$0.40 apiece on a best-efforts basis. Each whole warrant is exercisable at C$0.65 for 18 months.
The strike price is a 62.5% premium to the Dec. 14 closing share price of C$0.40.
Proceeds will be used for exploration and development of the company's New Mexico uranium properties and for general working capital.
Based in Vancouver, B.C., Tigris is a uranium explorer.
| Issuer: | Tigris Uranium Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$4.2 million
|
| Units: | 10.5 million
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.65
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 15
|
| Upsized: | Dec. 20
|
| Stock symbol: | TSX Venture: TU
|
| Stock price: | C$0.37 at close Dec. 15
|
| Market capitalization: | C$17.52 million
|
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