Company sells about 36 million special warrants at C$0.431 per warrant
By Devika Patel
Knoxville, Tenn., Dec. 30 – Northern Dynasty Minerals Ltd. said it will raise about C$15.5 million in a non-brokered private placement of special warrants on Monday. Insiders will purchase about 9 million special warrants.
The company will sell about 36 million special warrants at C$0.431 apiece. The price per special warrant is a identical to the Dec. 29 closing share price. The company also said in a press release that pricing was determined based on the five-day volume weighted trading price for the week ended Dec. 19.
The special warrants are each convertible into one common share on a one-for-one basis.
Settlement is expected Dec. 30.
Based in Vancouver, B.C., Northern Dynasty explores the Pebble property in Alaska for copper, gold and molybdenum.
| Issuer: | Northern Dynasty Minerals Ltd.
|
| Issue: | Special warrants convertible into common shares
|
| Amount: | C$15.5 million (approximate)
|
| Warrants: | 36 million (approximate)
|
| Price: | C$0.431
|
| Conversion ratio: | On a one-for-one basis
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 29
|
| Settlement date: | Dec. 30
|
| Stock symbol: | Toronto: NDM
|
| Stock price: | C$0.46 at close Dec. 28
|
| Market capitalization: | C$43.7 million
|
|
|
© 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.
