By Sheri Kasprzak
Atlanta, April 21 - Strongbow Exploration Inc. said it has closed a private placement for C$2,603,199.
The company sold 5.41 million flow-through shares at C$0.37 each and 1,718,571 units at C$0.35 each.
The units include one share and one half-share warrant. The whole warrants provide for an additional share at C$0.45 each through April 19, 2006.
The deal was first announced March 23 as a C$3,002,700 offering of up to 2.86 million units and up to 5.41 million flow-through shares under the same terms.
Haywood Securities Inc. and Canaccord Capital Corp. were the placement agents.
Based in Vancouver, B.C., Strongbow is a mineral exploration and development company. It plans to use the proceeds from the offering for exploration on its Canadian mineral properties and for working capital.
| Issuer: | Strongbow Exploration Inc.
|
| Issue: | Flow-through shares and units of one share and one half-share warrant
|
| Amount: | C$2,603,199
|
| Placement agents: | Haywood Securities Inc. and Canaccord Capital Corp.
|
| Pricing date: | March 23
|
| Settlement date: | April 20
|
| Stock price: | C$0.35 at close March 23
|
| Stock price: | C$0.31 at close April 20
|
|
|
| Flow-through shares
|
| Issue: | Flow-through shares
|
| Shares: | 5.41 million
|
| Price: | C$0.37
|
| Warrants: | No
|
|
|
| Units
|
| Issue: | Units of one share and one half-share warrant
|
| Units: | 1,718,571
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.45
|
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