By Laura Lutz
Des Moines, June 20 - Strongbow Exploration Inc. arranged a private placement of flow-through units for up to C$4,003,500.
The company plans to sell up to 4.71 million units of one flow-through share and one half-share non flow-through warrant at C$0.85 per unit.
Each whole warrant will be exercisable for one non flow-through share at C$1.10 for 18 months.
Of the units, 2.355 million will be super flow-through units and qualify for enhanced tax benefits available to British Columbia investors.
Haywood Securities Inc. will act as lead agent in a syndicate with Canaccord Capital Corp.
Proceeds will be used for exploration of the company's projects.
Strongbow is a mineral exploration company based in Vancouver, B.C.
| Issuer: | Strongbow Exploration Inc.
|
| Issue: | Units of one flow-through share and one half-share non flow-through warrant
|
| Amount: | C$4,003,500
|
| Units: | 4.71 million
|
| Price: | C$0.85
|
| Warrants: | One half-share per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.10
|
| Agents: | Haywood Securities Inc. (lead), Canaccord Capital Corp.
|
| Pricing date: | June 20
|
| Stock symbol: | TSX Venture: SBW
|
| Stock price: | C$0.72 at close June 19
|
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