By Laura Lutz
Des Moines, May 29 - Capella Resources Ltd. arranged a private placement of flow-through shares and units for up to C$10.01 million.
The company plans to sell up to 6.37 million flow-through shares at C$1.10 each and up to 2.73 million units at the same price.
Each unit will consist of one non flow-through share and one half-share transferable warrant. Each warrant will be exercisable for one non flow-through share at C$1.40 for 18 months.
Dundee Securities Corp. will act as agent.
Settlement is expected on June 21.
Proceeds will be used for exploration, acquisitions and working capital.
Capella is a mineral exploration company based in Vancouver, B.C.
| Issuer: | Capella Resources Ltd.
|
| Issue: | Flow-through shares; units of one share and one half-share warrant
|
| Amount: | C$10.01 million
|
| Agent: | Dundee Securities Corp.
|
| Pricing date: | May 29
|
| Settlement date: | June 21
|
| Stock symbol: | TSX Venture: CPS
|
| Stock price: | C$1.27 at close May 28
|
|
|
| Flow-through shares
|
| Shares: | 6.37 million
|
| Price: | C$1.10
|
| Warrants: | No
|
|
|
| Units
|
| Units: | 2.73 million
|
| Price: | C$1.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.40
|
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