By Devika Patel
Knoxville, Tenn., April 29 - Continental Nickel Ltd. said it amended the terms of a C$5 million private placement of units that priced April 13 with a C$750,000 greenshoe.
The company will now sell units of one common share and one half-share warrant at C$0.60 apiece on a best-efforts basis via a syndicate of agents led by Paradigm Capital Inc. and including Genuity Capital Markets. The units originally were priced at C$0.70.
Each whole warrant is now exercisable at C$0.80 for two years. The original strike price was C$0.90.
Proceeds will be used for exploration and general corporate activities.
Continental Nickel is a Toronto-based mineral exploration company focused on nickel sulphide exploration opportunities globally.
Issuer: | Continental Nickel Ltd.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$5 million
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Greenshoe: | C$750,000
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Price: | C$0.60
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.80
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Agents: | Paradigm Capital Inc. (lead), Genuity Capital Markets
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Pricing date: | April 13
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Amended: | April 29
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Stock symbol: | TSX Venture: CNI
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Stock price: | C$0.75 at close April 12
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Market capitalization: | C$18.2 million
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