By Sheri Kasprzak
Atlanta, March 17 - North American Tungsten Corp. Ltd. has increased the size of its previously announced C$6.25 million private placement to C$8.25 million.
The company will now sell 14 million units at C$0.50 each.
The units include one share and one half-share warrant. The whole warrants are exercisable at C$0.60 each for two years.
The company will also sell 2.5 million flow-through shares at C$0.50 each.
The deal was first announced March 16 as a C$6.25 million offering of 10 million units. The number of flow-through shares has not changed.
An underwriting syndicate led by Sprott Securities Inc. and Haywood Securities Inc. has a greenshoe for up to 4.5 million additional units.
The offering is expected to close March 30.
Based in Vancouver, B.C., North American Tungsten acquires, develops and mines minerals, especially tungsten.
| Issuer: | North American Tungsten Corp. Ltd.
|
| Issue: | Units of one share and one half-share warrant; flow-through shares
|
| Amount: | C$8.25 million
|
| Underwriters: | Sprott Securities Inc. (lead); Haywood Securities Inc. (lead)
|
| Pricing date: | March 16
|
| Upsized: | March 16
|
| Settlement date: | March 30
|
| Stock price: | C$0.67 at close March 16
|
|
|
| Units
|
| Issue: | Units of one share and one half-share warrant
|
| Units: | 14 million
|
| Greenshoe: | Up to 4.5 million units
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.60
|
|
|
| Flow-through shares
|
| Issue: | Flow-through shares
|
| Shares: | 2.5 million
|
| Price: | C$0.50
|
| Warrants: | No
|
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