By Laura Lutz
Washington, Feb. 7 - Adanac Molybdenum Corp. raised C$538,708.92 from an additional tranche of its previously announced private placement of units, bringing the total deal size to C$9,088,174.50.
In the final tranche, the company sold 528,146 units of one share and one warrant. The warrants are exercisable at C$1.50 for the first year, at C$1.75 each in the second year, at C$2.00 each in the third year and at C$2.25 for the fourth year.
The company settled an offering of 8,381,829 of the units on Jan. 4.
D&D Securities Co. was the placement agent for the deal.
The deal priced on Nov. 6 as an offering of up to 11.765 million units for up to C$12 million.
Adanac, based in Vancouver, B.C., is a mineral exploration company focused on molybdenum.
| Issuer: | Adanac Molybdenum Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$9,088,174.40
|
| Units: | 8,909,975
|
| Price: | C$1.02
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Four years
|
| Warrant strike price: | C$1.50 for the first year, C$1.75 for the second year, C$2.00 for the third year, C$2.25 for the fourth year
|
| Placement agent: | D&D Securities Co.
|
| Pricing date: | Nov. 6
|
| Settlement date: | Jan. 4 (for C$8,549,465.58); Feb. 7 (for C$538,708.92)
|
| Stock symbol: | TSX Venture: AUA
|
| Stock price: | C$1.25 at close Nov. 6
|
| Stock price: | C$1.15 at close Jan. 3
|
| Stock price: | C$1.02 at close Feb. 7
|
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