Non-brokered offering sold 5 million shares and 15.69 million units
By Devika Patel
Knoxville, Tenn., June 27 – Chibougamau Independent Mines Inc. said it raised C$1.04 million in a non-brokered private placement of stock and units. The deal priced for C$1 million with an 8% greenshoe on May 13.
The company sold 5 million flow-through common shares at C$0.05 apiece and 15.69 million units of one common share and a half-share warrant at C$0.05 per unit. Each whole warrant is exercisable at C$0.10 for 18 months.
Of the units, 690,000 were part of the greenshoe.
The price per share and price per unit are a 25% premium to the May 12 closing share price of C$0.04. The warrant strike price is a 150% premium to that price.
The precious metals explorer is based in Rouyn-Noranda, Quebec.
| Issuer: | Chibougamau Independent Mines Inc.
|
| Issue: | Flow-through common shares, units of one common share and a half-share warrant
|
| Amount: | C$1,034,500, including C$34,500 greenshoe of 690,000 units
|
| Price: | C$0.05
|
| Agent: | Non-brokered
|
| Pricing date: | May 13
|
| Settlement date: | June 27
|
| Stock symbol: | TSX Venture: CBG
|
| Stock price: | C$0.04 at close May 12
|
| Market capitalization: | C$1.3 million
|
|
|
| Shares
|
| Amount: | C$250,000
|
| Shares: | 5 million
|
| Warrants: | No
|
|
|
| Units
|
| Amount: | C$784,500
|
| Units: | 15.69 million
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.10
|
|
|
© 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.
