By Sheri Kasprzak
Atlanta, April 20 - Twenty-Seven Capital Corp. said it plans to raise up to C$2,425,000 in a private placement.
The company plans to sell up to 2.25 million flow-through shares at C$0.90 each and up to 500,000 non flow-through units at C$0.80 each.
The units include one common share and half-share warrant. The whole warrants allow for an additional share at C$1.00 each for two years.
Placement agent Pacific International Securities Inc. has an over-allotment option for an additional 450,000 flow-through shares and 100,000 additional units.
Based in Vancouver, B.C., Twenty-Seven is a uranium and iron oxide copper gold exploration company. It plans to use the proceeds from the flow-through shares for exploration on its Muskwa area and for other exploration in Canada. The proceeds from the units will be used for general corporate purposes and for exploration on non-Canadian projects.
| Issuer: | Twenty-Seven Capital Corp.
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| Issue: | Flow-through shares and units of one share and one half-share warrant
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| Amount: | C$2,425,000 (maximum)
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| Placement agent: | Pacific International Securities Inc.
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| Pricing date: | April 19
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| Stock price: | C$0.92 at close April 19
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| Shares
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| Issue: | Flow-through shares
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| Shares: | 2.25 million (maximum)
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| Greenshoe: | Up to 450,000 shares
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| Price: | C$0.90
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| Warrants: | No
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| Units
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| Issue: | Units of one common share and one half-share warrant
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| Units: | 500,000
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| Greenshoe: | Up to 100,000 units
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| Price: | C$0.80
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$1.00
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