By Devika Patel
Knoxville, Tenn., July 19 - Canaco Resources Inc. said it will conduct a C$20.02 million private placement of stock via a syndicate of underwriters led by TD Securities Inc. and including Canaccord Genuity Corp., Haywood Securities Inc. and Dundee Securities Corp. There is a C$5.04 million greenshoe.
The company will sell 14.3 million common shares at C$1.40 per share on a bought-deal basis.
Settlement is expected Aug. 4.
Proceeds will be used for exploration and development of the company's mineral properties and for general corporate purposes.
Vancouver, B.C.-based Canaco is a mineral exploration company.
| Issuer: | Canaco Resources Inc.
|
| Issue: | Common shares
|
| Amount: | C$20.02 million
|
| Greenshoe: | C$5.04 million
|
| Shares: | 14.3 million
|
| Price: | C$1.40
|
| Warrants: | No
|
| Agents: | TD Securities Inc. (lead), Canaccord Genuity Corp., Haywood Securities Inc. and Dundee Securities Corp.
|
| Pricing date: | July 19
|
| Settlement date: | Aug. 4
|
| Stock symbol: | TSX Venture: CAN
|
| Stock price: | C$1.56 at close July 16
|
| Market capitalization: | C$196.38 million
|
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