By Devika Patel
Knoxville, Tenn., Nov. 1 - War Eagle Mining Co. Inc. said it is increasing its previously announced non-brokered private placement of units to C$4.25 million from $4 million. The deal priced on Oct. 18.
The company will now sell up to 8.5 million units, up from 8 million units, of one share and one half-share warrant at C$0.50 per unit. Each whole warrant will be exercisable at C$0.75 for 18 months.
Proceeds will be used for development of the company's Tres Marias project and for general administration.
War Eagle is a mining company based in Vancouver, B.C.
| Issuer: | War Eagle Mining Co. Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$4.25 million
|
| Units: | 8.5 million
|
| Price: | C$0.50
|
| Warrants: | One half-warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.75
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 18
|
| Upsized: | Nov. 1
|
| Stock symbol: | TSX Venture: WAR
|
| Stock price: | C$0.49 at close Oct. 17
|
© 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.
