By Laura Lutz
Des Moines, June 28 - Indicator Minerals Inc. closed its previously announced private placement of flow-through units for C$4.2 million, including a fully exercised greenshoe for C$700,000.
The company sold 6 million flow-through units at C$0.70 each.
Each unit consists of one flow-through share and one half-share transferable non flow-through warrant. Each whole warrant will be exercisable at C$1.25 for 18 months.
Expiry of the warrants may be accelerated to 30 days if the closing price of the company's shares exceeds C$2.25 for 20 consecutive trading days at least four months after settlement of the placement.
Pacific International Securities Inc. was the agent.
Proceeds will be used for exploration.
Indicator is a mineral exploration company based in Vancouver, B.C.
| Issuer: | Indicator Minerals Inc.
|
| Issue: | Units of one flow-through share and one half-share transferable non flow-through warrant
|
| Amount: | C$4.2 million
|
| Units: | 6 million (Greenshoe for 1 million)
|
| Price: | C$0.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.25
|
| Agent: | Pacific International Securities Inc.
|
| Pricing date: | May 31
|
| Settlement date: | June 28
|
| Stock symbol: | TSX Venture: IME
|
| Stock price: | C$0.60 at close May 31
|
| Stock price: | C$0.51 at close June 28
|
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