By Laura Lutz
Washington, March 19 - Castillian Resources Corp. arranged a private placement of units for C$10.07 million.
The company plans to sell 10.6 million units of one share and one half-share warrant at C$0.95 per unit. Each whole warrant will be exercisable at C$1.20 for two years.
Expiry of the warrants may be accelerated if the closing price of the company's shares is at least C$1.50 for 20 consecutive trading days at any time more than four months after closing.
The underwriters, a syndicate led by Westwind Partners Inc., have a greenshoe for up to 5.3 million units, for additional proceeds of up to C$5.035 million, exercisable up to 48 hours before closing.
Proceeds will be used for exploration, property acquisitions and general corporate purposes.
Settlement is expected on April 5.
Castillian is a mineral exploration company based in Toronto.
| Issuer: | Castillian Resources Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$10.07 million
|
| Units: | 10.6 million
|
| Greenshoe: | For up to 5.3 million units
|
| Price: | C$0.95
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.20
|
| Underwriter: | Westwind Partners Inc. (lead)
|
| Pricing date: | March 19
|
| Settlement date: | April 5
|
| Stock symbol: | TSX Venture: CT
|
| Stock price: | C$0.99 at close March 19
|
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