By Sheri Kasprzak
New York, Aug. 28 - Donner Metals Ltd. priced an C$8 million private placement.
The offering includes both flow-through units at C$0.50 each and non flow-through units priced at C$0.40 each.
The flow-through units consist of one share and one half-share warrant with each whole warrant exercisable at C$0.75 for two years.
The non flow-through units include one share and one half-share warrant with each full warrant exercisable at C$0.55 for two years.
Canaccord Adams Inc. and Desjardins Securities Inc. will be the placement agents for a portion of the offering and have a greenshoe for up to C$2 million.
The exact breakdown of the flow-through units and non flow-through units being offered could not be determined Monday.
Proceeds will be used for exploration on the company's Matagami project in Quebec and for working capital.
Based in Vancouver, B.C., Donner is a mineral exploration company.
| Issuer: | Donner Metals Ltd.
|
| Issue: | Flow-through and non flow-through units of one share and one half-share warrant
|
| Amount: | C$8 million
|
| Greenshoe: | C$2 million
|
| Placement agents: | Canaccord Adams Inc. and Desjardins Securities Inc.
|
| Pricing date: | Aug. 28
|
| Stock symbol: | TSX Venture: DON
|
| Stock price: | C$0.50 at close Aug. 25
|
|
|
| Flow-through units
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| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
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| Warrant strike price: | C$0.75
|
|
|
| Non flow-through units
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| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.55
|
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