Northland Capital Partners is the agent; deal has C$900,000 greenshoe
By Devika Patel
Knoxville, Tenn., April 5 - Northquest Ltd. said it plans a private placement of units. NCP Northland Capital Partners Inc., the agent, will assist in raising C$6 million with a C$900,000 greenshoe.
The company will sell units at C$0.80 apiece and flow-through units at C$1.05 per flow-through unit.
Each unit consists of one common share and one half-share warrant. Each whole two-year warrant will be exercisable at C$1.65. Each flow-through unit consists of one flow-through common share and one half-share warrant. Each whole two-year warrant will be exercisable at C$1.50.
The strike prices are 65% and 50% premiums to the April 4 closing share price of C$1.00.
Settlement is expected April 29.
Northquest is a Toronto-based gold exploration company.
| Issuer: | Northquest Ltd.
|
| Issue: | Units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$6 million
|
| Greenshoe: | C$900,000
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Agent: | NCP Northland Capital Partners Inc.
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| Pricing date: | April 5
|
| Settlement date: | April 29
|
| Stock symbol: | TSX Venture: NQ
|
| Stock price: | C$1.00 at close April 5
|
| Market capitalization: | C$17.25 million
|
|
|
| Units
|
| Price: | C$0.80
|
| Warrant strike price: | C$1.65
|
|
|
| Flow-through units
|
| Price: | C$1.05
|
| Warrant strike price: | C$1.50
|
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