Oversubscribed deal funds exploration at Key, Golden Eagle properties
By Devika Patel
Knoxville, Tenn., Aug. 19 - Troymet Exploration Corp. said it settled a C$1.85 million non-brokered private placement of shares and units. The deal priced July 19 and was increased to C$1.5 million from C$1 million on July 29; it was oversubscribed by C$344,850.
The company sold 13,705,000 flow-through common shares at C$0.07 per share, a 7.69% premium to the July 18 closing share price of C$0.065.
Troymet also sold 17.71 million units of one common share and one warrant at C$0.05 per unit. Each one-year warrant will be exercisable at C$0.15, a 130.77% premium to the July 18 closing share price.
Proceeds will be used for exploration programs at the Key and Golden Eagle properties in British Columbia and for general corporate purposes.
Troymet is a gold and base metal exploration company based in Comox, B.C.
| Issuer: | Troymet Exploration Corp.
|
| Issue: | Flow-through common shares, units of one common share and one warrant
|
| Amount: | C$1,844,850
|
| Agent: | Non-brokered
|
| Pricing date: | July 19
|
| Upsized: | July 29
|
| Settlement date: | Aug. 19
|
| Stock symbol: | TSX Venture: TYE
|
| Stock price: | C$0.07 at close July 19
|
| Market capitalization: | C$6.96 million
|
|
|
| Flow-through shares
|
| Amount: | C$959,350
|
| Shares: | 13,705,000
|
| Price: | C$0.07
|
| Warrants: | No
|
|
|
| Units
|
| Amount: | C$885,500
|
| Units: | 17.71 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.15
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
