By Devika Patel
Knoxville, Tenn., Dec. 2 - Abcourt Mines Inc. said it plans a C$2 million private placement of units. Northern Securities Inc. is the agent of this best-efforts offering.
The company will sell 5.9 million flow-through units of one common share and one half-share warrant at C$0.17 per unit. Each whole warrant will be exercisable at C$0.19 for two years.
The company also will sell 7.1 million units of one class B common share and one warrant at C$0.13 per unit. Each two-year warrant will be exercisable at C$0.17.
Proceeds will be used for exploration and general corporate purposes.
Based in Mont-St-Hilaire, Quebec, Abcourt Mines is engaged in exploration work and studies to place its mining properties into production.
| Issuer: | Abcourt Mines Inc.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant, units of one class B common share and one warrant
|
| Amount: | C$1,926,000
|
| Warrant expiration: | Two years
|
| Agent: | Northern Securities Inc.
|
| Pricing date: | Dec. 2
|
| Stock symbol: | TSX Venture: ABI
|
| Stock price: | C$0.17 at close Dec. 1
|
| Market capitalization: | C$9.21 million
|
|
|
| Flow-through units
|
| Amount: | C$1,003,000
|
| Units: | 5.9 million
|
| Price: | C$0.17
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | C$0.19
|
|
|
| Units
|
| Amount: | C$923,000
|
| Units: | 7.1 million
|
| Price: | C$0.13
|
| Warrants: | One warrant per unit
|
| Warrant strike price: | C$0.17
|
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