By Laura Lutz
Washington, Feb. 21 - Tyler Resources Inc. arranged a private placement of units for up to C$9 million.
The company plans to sell up to 18 million units of one share and one half-share warrant at C$0.50 per unit. Each whole warrant will be exercisable at C$0.75 for two years.
Jennings Capital Inc. will act as agent for 16 million of the units. The other 2 million units will be placed at the discretion of the company.
The agent has a greenshoe for up to 4 million units, exercisable up to 48 hours before closing. If the agent's greenshoe is fully exercised, the company will also have the right to allocate an additional 1 million units.
Settlement is expected on March 12.
Proceeds will be used for exploration, for preparation of a feasibility study on the company's Bahuerachi property in Mexico and for working capital.
Tyler is an exploration company based in Calgary, Alta.
| Issuer: | Tyler Resources Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$9 million
|
| Units: | 18 million
|
| Greenshoe: | For up to 5 million units
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
| Agent: | Jennings Capital Inc. for 16 million units; non-brokered for 2 million units
|
| Pricing date: | Feb. 21
|
| Settlement date: | March 12
|
| Stock symbol: | TSX Venture: TYS
|
| Stock price: | C$0.54 at close Feb. 20
|
© 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.
