By Sheri Kasprzak
New York, Jan. 19 - Vedron Gold Inc. priced a C$5 million private placement.
The deal includes up to 10 million flow-through units at C$0.40 each and up to 2.5 million non flow-through units at the same price.
The flow-through units consist of one flow-through share and one half-share warrant. The whole warrants are exercisable at C$0.60 each for 18 months.
The non flow-through units include one share and one warrant. The warrants are exercisable at C$0.60 each for 18 months.
The expiry of the warrants may be accelerated to 30 days if, after four months, the company's stock trades above C$0.90 for more than 20 consecutive trading days.
Placement agent Primary Capital Inc. has a greenshoe for up to C$500,000.
Northfield Capital Corp. has already committed to purchasing the majority of the shares in the offering.
Proceeds will be used for exploration on the company's gold projects and for working capital.
Toronto-based Vedron is a gold exploration company.
| Issuer: | Vedron Gold Inc.
|
| Issue: | Flow-through and non flow-through units
|
| Amount: | C$5 million
|
| Greenshoe: | For C$500,000
|
| Placement agent: | Primary Capital Inc.
|
| Investor: | Northfield Capital Corp. (lead)
|
| Pricing date: | Jan. 19
|
| Stock symbol: | TSX Venture: VG
|
| Stock price: | C$0.67 at close Jan. 18
|
|
|
| Flow-through units
|
| Issue: | Units of one share and one half-share warrant
|
| Units: | 10 million
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.60
|
|
|
| Non flow-through units
|
| Issue: | Units of one share and one warrant
|
| Units: | 2.5 million
|
| Price: | C$0.40
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.60
|
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