Non-brokered deal offers units with half-share warrants at C$0.13 each
By Devika Patel
Knoxville, Tenn., June 5 – Fura Emeralds Inc. said it revised the terms of a non-brokered private placement of units, decreasing the size of the offer to C$1.5 million from C$2.7 million on Thursday. The deal priced on March 23.
The company will now sell 11,538,461 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 June 16.
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.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$1.5 million (reduced from C$2.7 million)
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Units: | 11,538,461
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Price: | C$0.13
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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$0.17
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Agent: | Non-brokered
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Pricing date: | March 23
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Revised: | June 4
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Settlement date: | June 16
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Stock symbol: | TSX Venture: FUR
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Stock price: | C$0.10 at close March 20
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Market capitalization: | C$3.12 million
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