Deal raises funds for properties and general working capital
By Devika Patel
Knoxville, Tenn., April 13 - Ethos Capital Corp. said it has arranged a C$15 million private placement of units and flow-through common shares through agent Canaccord Genuity Corp.
The company will sell units at C$1.00 apiece and up to C$5 million of shares at C$1.20 per share.
Each unit will consist of one common share and one half-share warrant, with each whole warrant exercisable at C$1.35 for 18 months.
The price of the flow-through shares is a 4.35% premium to the April 12 closing share price of C$1.15. The strike price of the warrants is a 17.39% premium to that price.
Settlement is expected May 5.
Proceeds will be used to advance the company's Canadian and Mexican properties and for general working capital.
Vancouver, B.C.-based Ethos is a junior mining company.
| Issuer: | Ethos Capital Corp.
|
| Issue: | Units of one common share and one half-share warrant, flow-through common shares
|
| Amount: | C$15 million
|
| Agent: | Canaccord Genuity Corp.
|
| Pricing date: | April 13
|
| Settlement date: | May 5
|
| Stock symbol: | TSX Venture: ECC
|
| Stock price: | C$1.14 at close April 13
|
| Market capitalization: | C$22 million
|
|
|
| Units
|
| Price: | C$1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.35
|
|
|
| Shares
|
| Amount: | C$5 million (maximum)
|
| Price: | C$1.20
|
| Warrants: | No
|
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