By Devika Patel
Knoxville, Tenn., March 5 - Brownstone Ventures Inc. said it will raise C$5.5 million in a non-brokered private placement of units.
The company will sell 10 million units of one common share and one half-share warrant at C$0.55 per unit on a best-efforts basis. The whole warrants are exercisable at C$0.75 for two years.
Brownstone is an energy-focused investment company based in Toronto.
Issuer: | Brownstone Ventures Inc.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$5.5 million
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Units: | 10 million
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Price: | C$0.55
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.75
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Agent: | Non-brokered
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Pricing date: | March 5
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Stock symbol: | TSX Venture: BWN
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Stock price: | C$0.56 at close March 4
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Market capitalization: | C$38.6 million
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