Deal with C$225,000 greenshoe funds company's properties in Mexico
By Devika Patel
Knoxville, Tenn., March 12 - Guerrero Exploration Inc. said it has negotiated a C$1.5 million private placement of units with agent Euro Pacific Canada Inc. There is a C$225,000 greenshoe.
The company will sell 10 million units of one common share and one half-share warrant at C$0.15 per unit on a best-efforts basis.
Each whole one-year warrant is exercisable at C$0.25, a 78.57% premium to the March 9 closing share price of C$0.14.
Settlement is expected in two tranches on March 16 and March 28.
Proceeds will be used to advance the company's properties in Mexico and for general corporate purposes.
Guerrero is a copper, gold and silver explorer in Vancouver, B.C.
| Issuer: | Guerrero Exploration Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.5 million
|
| Greenshoe: | C$225,000
|
| Units: | 10 million
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.25
|
| Agent: | Euro Pacific Canada Inc.
|
| Pricing date: | March 12
|
| Settlement dates: | March 16, March 28
|
| Stock symbol: | TSX Venture: GEX
|
| Stock price: | C$0.14 at close March 9
|
| Market capitalization: | C$4.28 million
|
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