By Sheri Kasprzak
Atlanta, May 9 - Skeena Resources Ltd. said it plans to raise C$2 million in a private placement.
The deal includes 4 million units at C$0.50 each.
The units are comprised of one share and one warrant. The warrants allow for an additional share at C$0.75 each for two years.
The exercise price of the warrants may be reduced if the company's stock trades above C$1.00 per share for more than 30 trading days.
First Associates Investments Inc. is the placement agent.
The company said it also plans to raise C$250,000 in a separate private placement of units under the same terms.
Based in Vancouver, B.C., Skeena is a gold exploration company. It plans to use the proceeds for its El Corazon gold project in Ecuador and for general corporate purposes.
Issuer: | Skeena Resources Ltd.
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Issue: | Units of one share and one warrant
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Amount: | C$2 million
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Units: | 4 million
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Price: | C$0.50
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.75
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Placement agent: | First Associates Investments Inc.
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Pricing date: | May 6
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Stock price: | C$0.45 at close May 6
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