Offering's proceeds slated for exploration and general working capital
By Devika Patel
Knoxville, Tenn., Dec. 22 - Cartier Resources Inc. said it settled a C$3.08 million private placement of units with agents Industrial Alliance Securities Inc. and National Bank Financial Inc. The deal priced for up to C$4.5 million on Dec. 6.
The company sold flow-through units of 2,000 flow-through common shares, 600 common shares and 600 warrants at C$1,090 per unit. Cartier also sold units of one common share and one warrant at C$0.35 per unit.
Each unit warrant will be exercisable at C$0.46 for 18 months. Each flow-through unit warrant will be exercisable at C$0.46 for one year. The strike price is a 21.05% premium to the Dec. 5 closing share price of C$0.38.
Proceeds will be used for exploration programs and general working capital.
Cartier is a Val-d'Or, Quebec, gold explorer.
| Issuer: | Cartier Resources Inc.
|
| Issue: | Flow-through units of 2,000 flow-through common shares, 600 common shares and 600 warrants, units of one common share and one warrant
|
| Amount: | C$3,080,840
|
| Warrant strike price: | C$0.46
|
| Agents: | Industrial Alliance Securities Inc. and National Bank Financial Inc.
|
| Pricing date: | Dec. 6
|
| Settlement date: | Dec. 22
|
| Stock symbol: | TSX Venture: ECR
|
| Stock price: | C$0.38 at close Dec. 5
|
| Market capitalization: | C$14.09 million
|
|
|
| Flow-through units
|
| Price: | C$1,090
|
| Warrants: | 600 warrants per unit
|
| Warrant expiration: | One year
|
|
|
| Units
|
| Price: | C$0.35
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
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