New York, April 11 - Canadian Shield Resources Inc. said it completed a $48,000 over-allotment on its previously announced C$1.5 million private placement.
The company sold a further 213,320 class A units and 64,006 class B units on top of the original pricing of 6,666,667 class A units at C$0.15 each and 2 million class B units at C$0.25 each.
The class A units include one share and one half-share series G warrant. The full warrants allow for an additional share at C$0.30 each through March 31, 2006. The warrant is callable, at Canadian Shield's option, after July 31, if its stock trades above C$0.45 per share for 10 consecutive trading days.
The class B units include one share and one half-share series H warrant. The full series H warrants allow for an additional share at C$0.40 each through March 31, 2006. The warrants are callable after July 31, if the company's stock trades above $0.60 each for 10 consecutive trading days.
Lakeshore Capital Partners Ltd. was the placement agent.
Based in Toronto, Canadian Shield is a mineral exploration, acquisition and development company. The proceeds will be used for exploration in Peru and for working capital and general corporate purposes.
| Issuer: | Canadian Shield Resources Inc.
|
| Issue: | Units
|
| Amount: | C$1.5 million (C$1.548 million with greenshoe)
|
| Placement agent: | Lakeshore Capital Partners Ltd.
|
| Settlement date: | April 1 (greenshoe closed April 11)
|
| Stock price: | C$0.26 at close April 1
|
| Stock price: | C$0.255 at close April 11
|
|
|
| Class A units
|
| Issue: | Units of one share and one half-share series G warrant
|
| Units: | 6,666,667 (6,879,877 with greenshoe)
|
| Price: | C$0.15
|
| Warrants: | One half-share series G warrant per unit
|
| Warrant expiration: | March 31, 2006
|
| Warrant strike price: | C$0.30
|
| Warrant call: | Callable after July 31 if the company's stock trades above C$0.45 per share for 10 consecutive trading days
|
|
|
| Class B units
|
| Issue: | Units of one share and one half-share series H warrant
|
| Units: | 2 million (2,064,006 with greenshoe)
|
| Price: | C$0.25
|
| Warrants: | One half-share series H warrant per unit
|
| Warrant expiration: | March 31, 2006
|
| Warrant strike price: | C$0.40
|
| Warrant call: | Callable after July 31 if the company's stock trades above C$0.60 per share for 10 consecutive trading days
|
|
|
© 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.
