Non-brokered offering finances exploration and general working capital
By Devika Patel
Knoxville, Tenn., Feb. 25 - Bellhaven Copper & Gold Inc. said its non-brokered private placement of units has been oversubscribed, raising C$1.8 million. The deal priced for C$1.7 million on Feb. 15.
The company sold 15,652,173 units of one common share and one half-share warrant at C$0.115 per unit, with each whole three-year warrant exercisable at C$0.15. The strike price reflects a 36.36% premium to the Feb. 14 closing share price of C$0.11.
IAMGOLD Corp. invested C$250,000.
Proceeds will be used for exploration and general working capital.
Bellhaven is a gold and copper exploration and development company based in Panama. Its Canadian headquarters is located in Vancouver, B.C.
| Issuer: | Bellhaven Copper & Gold Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.8 million
|
| Units: | 15,652,173
|
| Price: | C$0.115
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Investor: | IAMGOLD Corp. (for C$250,000)
|
| Pricing date: | Feb. 15
|
| Settlement date: | Feb. 25
|
| Stock symbol: | TSX Venture: BHV
|
| Stock price: | C$0.11 at close Feb. 14
|
| Market capitalization: | C$12.12 million
|
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