By Angela McDaniels
Tacoma, Wash., Sept. 29 - Volta Resources Inc. has arranged a C$5.02 million bought-deal private placement of subscription receipts, according to a company news release.
The company will sell 15.2 million receipts for C$0.33 each.
The syndicate of underwriters is led by Wellington West Capital Markets Inc. and has been given a C$4.03 million greenshoe.
Each receipt will be automatically converted into one common share of the company once the proceeds of the placement are released from escrow.
The placement is expected to settle by Oct. 21.
Proceeds will be used to fund the acquisition of the Kiaka Gold Project in Burkina Faso from Randgold Resources Ltd. and for general corporate and working capital purposes.
Volta is a Toronto-based mineral exploration company primarily focused on gold.
| Issuer: | Volta Resources Inc.
|
| Issue: | Subscription receipts
|
| Amount: | C$5,016,000
|
| Greenshoe: | C$4,026,000
|
| Receipts: | 15.2 million
|
| Price: | C$0.33
|
| Warrants: | No
|
| Underwriter: | Wellington West Capital Markets Inc. (lead)
|
| Pricing date: | Sept. 29
|
| Settlement date: | Oct. 21 (or earlier)
|
| Stock symbol: | Toronto: VTR
|
| Stock price: | C$0.365 at close Sept. 29
|
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