Non-brokered deal sells two types of unit at C$0.20, C$0.25 apiece
By Devika Patel
Knoxville, Tenn., Sept. 2 – Natan Resources Ltd. said it raised C$875,600 in the first tranche of a C$1 million non-brokered private placement of units. The deal priced on July 26 and was increased to C$1 million from C$800,000 on Aug. 3.
The company is selling 3 million units of one common share and one half-share warrant at C$0.20 per unit and 1.6 million flow-through units of one flow-through common share and a half-share warrant at C$0.25 per unit.
Each whole warrant is exercisable at C$0.30 for three years. The strike price is a 20% premium to the July 25 closing share price of C$0.25.
Natan sold 2,653,000 units and 1.38 million flow-through units in the initial tranche.
Settlement of the second tranche is expected Sept. 16.
Proceeds will be used for the company's 2016 work program on its Duval Property.
The capital pool company is based in Vancouver, B.C.
| Issuer: | Natan Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant
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| Amount: | C$1 million
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Three years
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| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
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| Pricing date: | July 26
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| Upsized: | Aug. 3
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| Settlement date: | Sept. 2 (for C$875,600), Sept. 16
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| Stock symbol: | TSX Venture: NRL
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| Stock price: | C$0.25 at close July 25
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| Market capitalization: | C$527,760
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| Units
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| Amount: | C$600,000
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| Units: | 3 million
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| Price: | C$0.20
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| Flow-through units
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| Amount: | C$400,000
|
| Units: | 1.6 million
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| Price: | C$0.25
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