By Sheri Kasprzak
New York, Aug. 1 - Tom Exploration Inc. said it has increased the size of its previously announced private placement to C$1.35 million from C$1.10 million.
The company now plans to sell up to 2.26 million flow-through shares at C$0.50 each and at least 440,000 units at C$0.50 each.
The units are comprised of one share and one half-share warrant. The whole warrants allow for an additional share at C$0.70 each for two years.
The offering was first announced May 13 as a C$1.1 million offering of up to 2 million flow-through shares or units at C$0.55 each. On June 3, the offering was amended to include up to 2.2 million flow-through shares or units at C$0.50 each.
Anchor Securities Ltd. is the placement agent.
Based in Rouyn-Noranda, Quebec, Tom Exploration is a gold exploration company. It plans to use the proceeds for exploration on the Bristol and Lalonde gold properties in Timmins, Ont.
| Issuer: | Tom Exploration Inc.
|
| Issue: | Flow-through shares and units of one share and one half-share warrant
|
| Amount: | C$1.35 million
|
| Placement agent: | Anchor Securities Ltd.
|
| Pricing date: | May 13
|
| Amended: | June 2
|
| Upsized: | July 29
|
| Stock price: | C$0.57 at close May 13
|
| Stock price: | C$0.49 at close June 2
|
| Stock price: | C$0.50 at close July 29
|
|
|
| Flow-through shares
|
| Issue: | Flow-through common shares
|
| Shares: | 2.26 million (maximum)
|
| Price: | C$0.50
|
| Warrants: | No
|
|
|
| Units
|
| Issue: | Units of one common share and one half-share warrant
|
| Units: | 440,000 (minimum)
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.70
|
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