By Sheri Kasprzak
New York, April 5 - Selkirk Metals Corp. said the greenshoe was exercised on its previously announced private placement, bringing the proceeds raised to C$2,755,000.
The company sold a total of 3,633,333 flow-through units at C$0.45 each and 2.8 million non flow-through units at C$0.40 each.
Placement agent Pacific International Securities Inc. exercised its greenshoe for 300,000 flow-through units and 300,000 non flow-through units.
The flow-through units include one share and one half-share warrant with each whole warrant exercisable at C$0.60 for 18 months.
The non flow-through units consist of one share and one half-share warrant with each whole warrant exercisable at C$0.60 for 18 months.
The expiry of the warrants may be accelerated if the company's stock trades above C$1.20 for more than 20 consecutive trading days.
Proceeds will be used for exploration and development of the company's Ruddock Creek property and for working capital.
Based in Vancouver, B.C., Selkirk is a mineral exploration company.
| Issuer: | Selkirk Metals Corp.
|
| Issue: | Flow-through and non flow-through units of one share and one half-share warrant
|
| Amount: | C$2,755,000
|
| Placement agent: | Pacific International Securities Inc.
|
| Pricing date: | March 1
|
| Upsized: | March 3
|
| Settlement date: | April 4
|
| Stock symbol: | TSX Venture: SLK
|
| Stock price: | C$0.455 at close March 1
|
| Stock price: | C$0.52 at close March 3
|
| Stock price: | C$0.85 at close April 4
|
|
|
| Non flow-through units
|
| Units: | 2.8 million (includes greenshoe for 300,000 units)
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.60
|
|
|
| Flow-through units
|
| Units: | 3,633,333 (includes greenshoe for 300,000 units)
|
| Price: | C$0.45
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.60
|
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