By Devika Patel
Knoxville, Tenn., Aug. 4 - Coastport Capital Inc. announced it plans to conduct a C$2.25 million non-brokered private placement of units. This private placement is in addition to the C$3.5 million non-brokered private placement reported on July 23.
The company will sell 15 million units of one flow-through common share and one half-share warrant at C$0.15 apiece.
Each whole one-year warrant will be exercisable at C$0.20 in the first six months and at C$0.30 thereafter. The C$0.30 strike price represents a 50% premium over the closing share price of C$0.20 on Wednesday.
Coastport is a resource exploration company based in Vancouver, B.C.
| Issuer: | Coastport Capital Inc.
|
| Issue: | Units of one flow-through common share and a half-share warrant
|
| Amount: | C$2.25 million
|
| Units: | 15 million
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.20 in the first six months, C$0.30 thereafter
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 4
|
| Stock symbol: | TSX Venture: CPP
|
| Stock price: | C$0.20 at close Aug. 4
|
| Market capitalization: | C$10.65 million
|
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