New York, July 20 - Great Panther Resources Ltd. said it is returning to the private placement market with a C$4.5 million offering of units - just one day after completing a previous C$1.96 million deal.
In the latest offering, Great Panther will sell up to 10 million units at C$0.45 each.
The units will consist of one common share and half a warrant. Whole warrants will be exercisable for one common share at C$0.62 for a year.
The deal has a 1.5 million unit greenshoe.
Union Securities Ltd. is placement agent.
Pricing levels on the new deal are identical to that just completed.
Based in Vancouver, B.C., Great Panther is a silver exploration company. The proceeds will be used for working capital, including the rehabilitation of the company's Topia silver mine in Durango. The remainder will be used for other exploration activities and investigations into asset acquisitions.
| Issuer: | Great Panther Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$4.5 million
|
| Units: | 10,000,000
|
| Greenshoe: | 1,500,000
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| Price: | C$0.45
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
|
| Warrant strike price: | C$0.62
|
| Placement agent: | Union Securities Ltd.
|
| Pricing date: | July 20
|
| Settlement date: | July 19
|
| Stock price: | C$0.55 at close July 20
|
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