By Sheri Kasprzak
New York, July 5 - Brownstone Ventures Inc. has again upsized its previously announced private placement, this time to C$15 million.
The offering now includes up to 10 million units of one share and one half-share warrant. Each whole warrant is 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. It was upsized before, on June 29, to C$14 million.
Toronto-based Brownstone is an investment company focused on uranium, oil and gas companies.
| Issuer: | Brownstone Ventures Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$15 million
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| Units: | 10 million
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| Price: | C$1.50
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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$2.00
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| Placement agent: | Non-brokered
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| Pricing date: | June 26
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| Upsized: | July 5
|
| Stock symbol: | TSX Venture: BWN
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| Stock price: | C$1.67 at close June 26
|
| Stock price: | C$2.02 at close July 4
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