By Devika Patel
Knoxville, Tenn., Dec. 20 - Triex Minerals Corp. announced that it has raised C$6.27 million from two previously announced private placements. It raised C$369,100 in its non-brokered deal and C$5.90 million in the brokered placement.
The company amended the terms of the deals, which priced on Nov. 28, on Dec. 5, saying it planned to raise C$7.33 million, up from its original size of C$7.04 million.
In the brokered deal, Triex sold 993,235 flow-through common shares at C$3.40 apiece for C$3,376,999 and 841,667 units at C$3.00 each for C$2,525,001.
In the non-brokered placement, Triex sold 25,000 flow-through shares at the same price as those in the first deal for C$85,000 and 94,700 units, also at the same price, for C$284,100.
Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$3.50 for 18 months.
The warrants may expire sooner if the company's common shares close higher than C$4.50 for 20 consecutive trading days. In that case, the warrants will expire on the 30th day after Triex notifies holders.
The size of the first brokered offering was to have been C$6.4 million. The second non-brokered deal's size was lifted to C$932,000 from C$640,000 on Dec. 5.
In the brokered portion, the company said on Dec. 5 it planned to sell up to 1,113,235 flow-through shares, boosted from 1 million shares, at C$3.40 per share for C$3,784,999, up from C$3.4 million, and up to 871,667 units, lowered from 1 million units, at C$3.00 apiece for C$2,615,001, down from the planned C$3 million.
In addition, Triex said on Dec. 5 it was changing the terms of the non-brokered private placement to up to 80,000 shares, down from the planned 100,000 shares, and up to 220,000 units, increased from its planned 100,000 units.
The brokered deal was conducted by a syndicate of agents led by Dundee Securities Corp. and including Toll Cross Securities Inc. and Wellington West Capital Markets Inc.
The company paid the agents a 6% cash commission and issued 110,094 compensation warrants. Each compensation warrant will be exercisable for one common share at C$3.10 for one year.
Proceeds will be used for exploration and working capital.
Based in Vancouver, B.C., Triex Minerals is an active resource exploration company focused on the acquisition and exploration of uranium properties.
| Issuer: | Triex Minerals Corp.
|
| Issue: | Units of one common share and one half-share warrant; flow-through shares
|
| Amount: | C$6,271,100
|
| Pricing date: | Nov. 28
|
| Upsized: | Dec. 5
|
| Settlement date: | Dec. 20
|
| Stock symbol: | TSX Venture: TXM
|
| Stock price: | C$3.10 at close Nov. 27
|
|
|
| Brokered deal
|
| Amount: | C$5,902,000
|
| Agents: | Dundee Securities Corp. (lead), Toll Cross Securities Inc. and Wellington West Capital Markets Inc.
|
| Fees: | 6% in cash, 110,094 compensation warrants
|
|
|
| Units
|
| Amount: | C$2,525,001
|
| Units: | 841,667
|
| Price: | C$3.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$3.50
|
|
|
| Flow-through shares
|
| Amount: | C$3,376,999
|
| Shares: | 993,235
|
| Price: | C$3.40
|
| Warrants: | No
|
|
|
| Non-brokered deal
|
| Amount: | C$369,100
|
| Agents: | Non-brokered
|
|
|
| Units
|
| Amount: | C$284,100
|
| Units: | 94,700
|
| Price: | C$3.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$3.50
|
|
|
| Flow-through shares
|
| Amount: | C$85,000
|
| Shares: | 25,000
|
| Price: | C$3.40
|
| Warrants: | No
|
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