By Sheri Kasprzak
Atlanta, April 13 - Abcourt Mines Inc. has increased the size of its previously announced private placement to C$2,007,500 from C$1,322,500. The company also reduced the price of the units involved in the offering.
The company will now sell 10.0375 million units at C$0.20 each.
The units include one share and one half-share warrant. The whole warrants provide for an additional share at C$0.30 each for two years.
Placement agent Northern Securities Inc. has an over-allotment option for up to 15% of the units sold in the deal.
If the over-allotment option is fully exercised, the company will receive C$2.3 million in proceeds.
When the deal was first announced March 16, it included 4,723,214 units at C$0.28 each. The warrants involved in the initial offering were priced at C$0.42 each.
Based in Mont-St. Hilaire, Quebec, Abcourt is a mineral exploration and development company. It plans to use the proceeds for a feasibility study and for a drilling program.
| Issuer: | Abcourt Mines Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2,007,500
|
| Units: | 10.0375 million
|
| Greenshoe: | For up to 15% of the units being offered
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Placement agent: | Northern Securities Inc.
|
| Pricing date: | March 15
|
| Upsized: | April 12
|
| Stock price: | C$0.31 at close March 15
|
| Stock price: | C$0.25 at close April 12
|
|
|
© 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.
