By Laura Lutz
Washington, March 12 - Calypso Acquisition Corp. closed its slightly downsized private placement of units for C$10 million.
The company sold 15,390,042 units of one share and one warrant at C$0.65 per unit. Each whole warrant will be exercisable at C$0.85 for two years.
Expiry of the warrants may be accelerated to 30 days if the closing price of the company's shares is at least C$1.70 for 30 consecutive trading days at any time more than four months after the warrants are issued.
The deal priced on Feb. 12 as a C$7.8 million offering of up to 12 million units. On Feb. 13, it was upsized to a C$10.01 million offering of 15.4 million units.
PowerOne Capital Markets Ltd. acted as agent for 9,699,077 of the units. The remainder of the offering was non-brokered.
Proceeds will be used for exploration, drilling and working capital.
Calypso is a Vancouver, B.C.-based uranium exploration and development company.
| Issuer: | Calypso Acquisition Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$10 million
|
| Units: | 15,390,042
|
| Price: | C$0.65
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.85
|
| Agent: | PowerOne Capital Markets Ltd. (for 9,699,077); non-brokered (for remainder)
|
| Pricing date: | Feb. 12
|
| Upsized: | Feb. 13
|
| Settlement date: | March 12
|
| Stock symbol: | TSX Venture: CLP
|
| Stock price: | C$0.85 at close Feb. 12
|
| Stock price: | C$0.90 at close Feb. 13
|
| Stock price: | C$1.04 at close March 9
|
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