Non-brokered deal to fund expenditures and general working capital
By Devika Patel
Knoxville, Tenn., Sept. 17 - Capella Resources Ltd. said it plans a C$1.8 million non-brokered private placement of units.
The company will sell 10 million flow-through shares at C$0.09 apiece. The price represents a 47.06% discount to the C$0.17 closing share price on Sept. 16.
The company also will sell 10 million units at C$0.09 apiece. Each unit consists of one common share and one warrant. Each warrant is exercisable at C$0.20 for two years.
The strike price represents a 17.65% premium to the Sept. 16 closing share price.
Proceeds will be used for eligible expenditures on the company's properties in Canada and for general working capital.
Capella is an exploration and mineral development company based in Dartmouth, N.S.
| Issuer: | Capella Resources Ltd.
|
| Issue: | Flow-through shares, units of one common share and one warrant
|
| Amount: | C$1.8 million
|
| Price: | C$0.09
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 17
|
| Stock symbol: | TSX Venture: KPS
|
| Stock price: | C$0.18 at close Sept. 17
|
| Market capitalization: | C$8.71 million
|
|
|
| Flow-through shares
|
| Amount: | C$900,000
|
| Shares: | 10 million
|
| Warrants: | No
|
|
|
| Units
|
| Amount: | C$900,000
|
| Units: | 10 million
|
| Warrants: | One warrant per unit
|
| Warrant strike price: | C$0.20
|
| Warrant expiration: | Two years
|
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