Non-brokered deal funds exploration at the Curraghinalt gold project
By Devika Patel
Knoxville, Tenn., July 8 – Dalradian Resources Inc. said it will conduct a C$10.08 million non-brokered private placement of units.
The company will sell 11.2 million units of one common share and one half-share warrant at C$0.90 per unit. Each whole warrant will be exercisable at C$1.50 for three years. The strike price is a 50% premium to the July 7 closing share price of C$1.00.
The company also said it plans a public sale of units at the same price to raise C$10.08 million, with a 15% greenshoe.
Settlement of both sales is expected July 31.
Proceeds will be used for exploration and development at the Curraghinalt gold project and general working capital purposes.
The gold explorer is based in Toronto.
| Issuer: | Dalradian Resources Inc.
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| Issue: | Units of one common share and one half-share warrant
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| Amount: | C$10.08 million
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| Units: | 11.2 million
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| Price: | C$0.90
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Three years
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| Warrant strike price: | C$1.50
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| Agent: | Non-brokered
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| Pricing date: | July 8
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| Settlement date: | July 31
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| Stock symbol: | Toronto: DNA
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| Stock price: | C$1.00 at close July 7
|
| Market capitalization: | C$111.57 million
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