E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 12/22/2011 in the Prospect News PIPE Daily.

Cap-Ex completes C$3.33 million of C$10.2 million placement of units

Non-brokered deal to fund exploration; Forbes & Manhattan participates

By Devika Patel

Knoxville, Tenn., Dec. 22 - Cap-Ex Ventures Ltd. said it raised C$3.33 million in the initial tranche of a C$10.2 million non-brokered private placement of units. Forbes & Manhattan, Inc. is among the investors for the deal, which priced Dec. 2.

The company is selling 2 million flow-through units of one flow-through common share and one warrant at C$0.85 per unit and 10 million non flow-through units of one non flow-through share and one warrant at the same price per unit.

The company sold 3,915,810 units in the first tranche.

Each warrant is exercisable at C$0.95 for two years. The strike price reflects a 3.06% discount to the Dec. 1 closing share price of C$0.98.

Settlement of the second tranche is expected Jan. 15.

Proceeds will be used for exploration.

Cap-Ex is a gold exploration company based in Vancouver, B.C.

Issuer:Cap-Ex Ventures Ltd.
Issue:Units of one common share and one warrant; flow-through units of one flow-through common share and one warrant
Amount:C$10.2 million
Units:12 million
Price:C$0.85
Warrants:One warrant per unit
Warrant expiration:Two years
Warrant strike price:C$0.95
Agent:Non-brokered
Investor:Forbes & Manhattan, Inc.
Pricing date:Dec. 2
Settlement date:Dec. 22 (for C$3,328,439), Jan. 15
Stock symbol:TSX Venture: CEV
Stock price:C$0.98 at close Dec. 1
Market capitalization:C$44.13 million
Flow-through units
Amount:C$1.7 million
Units:2 million
Non flow-through units
Amount:C$8.5 million
Units:10 million

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.