By Laura Lutz
Des Moines, March 13 - Capella Resources Ltd. settled its non-brokered private placement of units for C$2.5 million, down from the C$2.6 million size announced at pricing on Feb. 13.
The company sold 12.5 million units of one flow-through common share and one half-share warrant at C$0.20 apiece. Each whole two-year warrant will be exercisable at C$0.50 for the first year and at C$0.75 for the second year.
MineralFields Group bought 10 million units for C$2 million.
The company will pay a 6.5% cash finder's fee and issue a number of warrants equal to 6.5% of the number of units bought by MineralFields Group.
Proceeds will be used for exploration.
Capella is a mineral exploration company based in Vancouver, B.C.
| Issuer: | Capella Resources Ltd.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$2.5 million
|
| Units: | 12.5 million
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: C$0.50 the first year, C$0.75 for second year
|
| Agent: | Non-brokered
|
| Investor: | MineralFields Group (for C$2 million)
|
| Fees: | 6.5% in cash and warrants
|
| Pricing date: | Feb. 13
|
| Stock symbol: | TSX Venture: CPS
|
| Stock price: | C$0.175 at close Feb. 13
|
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