By Devika Patel
Knoxville, Tenn., Oct. 17 - TTM Resources Inc. announced plans for a private placement of units to raise up to C$5.1 million.
The company will sell 3,400,000 flow-through units at C$1.50 apiece. Each unit consists of one flow-through common share and one half-share transferable warrant. Each whole warrant is exercisable into one non flow-through common share at C$1.75 for one year.
Canaccord Capital Corp. will be the agent.
Proceeds will be used for exploration.
TTM is a resource company based in Vancouver, B.C.
| Issuer: | TTM Resources Inc.
|
| Issue: | Units of one flow-through common share and one half-share transferable warrant
|
| Amount: | C$5.1 million (maximum)
|
| Units: | 3,400,000
|
| Price: | C$1.50
|
| Warrants: | One half warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.75
|
| Agent: | Canaccord Capital Corp
|
| Pricing date: | Oct. 17
|
| Stock symbol: | TSX Venture: TTQ
|
| Stock price: | C$1.50 at close Oct. 16
|
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