Non-brokered deal offers units with half-share warrants at C$0.13 each
By Devika Patel
Knoxville, Tenn., March 23 – Fura Emeralds Inc. said it has arranged a C$2.7 million non-brokered private placement of units.
The company will sell 20,769,230 units of one common share and one half-share warrant at C$0.13 per unit.
Each whole warrant is exercisable at C$0.17 for two years. The strike price is a 70% premium to C$0.10, the March 20 closing share price.
Settlement is expected April 15.
Proceeds will be used to buy an emerald mining concession, for work related to the concession and for general corporate purposes.
The natural resource explorer is based in Toronto.
| Issuer: | Fura Emeralds Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2.7 million
|
| Units: | 20,769,230
|
| Price: | C$0.13
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.17
|
| Agent: | Non-brokered
|
| Pricing date: | March 23
|
| Settlement date: | April 15
|
| Stock symbol: | TSX Venture: FUR
|
| Stock price: | C$0.10 at close March 20
|
| Market capitalization: | C$2.9 million
|
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