By Laura Lutz
Des Moines, May 15 - Baffinland Iron Mines Corp. upsized its previously announced private placement of shares to C$49,517,866.
The company now plans to sell 15,973,505 flow-through shares at C$3.10 each.
Raymond James Ltd. will lead a syndicate of agents that will also include BMO Capital Markets; GMP Securities LP; National Bank Financial Inc.; and Loewen, Ondaatje, McCutcheon Ltd.
The deal priced on May 15 as a C$25 million offering of 8,064,516 flow-through shares. Settlement is expected on June 5.
Proceeds will be used for exploration.
Baffinland is a mining company based in Toronto.
Issuer: | Baffinland Iron Mines Corp.
|
Issue: | Flow-through shares
|
Amount: | C$49,517,866
|
Shares: | 15,973,505
|
Price: | C$3.10
|
Warrants: | No
|
Agents: | Raymond James Ltd. (lead); BMO Capital Markets; GMP Securities LP; National Bank Financial Inc.; Loewen, Ondaatje, McCutcheon Ltd.
|
Pricing date: | May 15
|
Upsized: | May 16
|
Settlement date: | June 5
|
Stock symbol: | Toronto: BIM
|
Stock price: | C$2.63 at close May 15
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