By Sheri Kasprzak
New York, June 29 - Brownstone Ventures Inc. has upsized to C$14 million its previously announced private placement.
The offering now includes up to 9,333,334 units at C$1.50 each.
The units are comprised of one share and one half-share warrant with each whole warrant exercisable at C$2.00 for two years.
The expiry of the warrants may be accelerated to 30 days if the stock trades above C$3.50 for more than 20 consecutive trading days.
The deal priced on June 26 as a C$12 million offering of 8 million units.
Toronto-based Brownstone is an investment company focused on uranium, oil and gas companies.
| Issuer: | Brownstone Ventures Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$14 million
|
| Units: | 9,333,334
|
| Price: | C$1.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$2.00
|
| Placement agent: | Non-brokered
|
| Pricing date: | June 26
|
| Upsized: | June 29
|
| Stock symbol: | TSX Venture: BWN
|
| Stock price: | C$1.67 at close June 26
|
| Stock price: | C$1.75 at close June 29
|
|
|
© 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.
