By Devika Patel
Knoxville, Tenn., Nov. 13 - Stornoway Diamond Corp. said it settled a private placement of stock, raising C$3.83 million. The deal priced for C$3 million on Nov. 4 and was increased to C$4 million with a C$1 million greenshoe on Nov. 5.
The company sold 25,521,000 flow-through common shares at C$0.15 per share.
It had planned to sell 26,666,600 shares, increased from the original size of 20 million shares.
Of the shares sold, 9,715,001 were sold on a non-brokered basis for C$1.46 million. The remaining 15,806,000 shares were sold by Canaccord Capital Corp. for C$2.37 million.
Proceeds will be used for exploration.
Stornoway, based in Vancouver, B.C., is a diamond exploration and development company.
| Issuer: | Stornoway Diamond Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$3,828,150
|
| Shares: | 25,521,000
|
| Price: | C$0.15
|
| Warrants: | No
|
| Agent: | Non-brokered (for C$1,457,250), Canaccord Capital Corp. (for C$2,370,900)
|
| Pricing date: | Nov. 4
|
| Upsized: | Nov. 5
|
| Settlement date: | Nov. 13
|
| Stock symbol: | Toronto: SWY
|
| Stock price: | C$0.14 at close Nov. 3
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
