By Sheri Kasprzak
Atlanta, Dec. 27 - Halo Resources Ltd. said Friday it raised C$6,374,554 in a private placement.
The company sold 4,317,951 flow-through units at C$0.95 each and 2,673,530 non flow-through units at C$0.85 each.
The flow-through units consist of one share and one half-share warrant. The whole warrants allow for an additional share at C$1.25 for the first year and C$1.50 for the second year.
The non flow-through units are comprised of one share and one warrant. The warrants allow for an additional share at C$1.10 for the first year and C$1.35 for the second.
The placement agents in the offering, Canaccord Capital Corp. and Pacific International Securities Inc., exercised an over-allotment option on the private placement for an additional C$924,554.
The deal was originally announced Nov. 29 as a C$5.45 million offering.
Halo, based in Vancouver, B.C., is a precious metal acquisition company. It plans to use the proceeds from the private placement to explore and develop its Duport and Bachelor Lake properties and for general working capital.
| Issuer: | Halo Resources Ltd.
|
| Issue: | Flow-through and non flow-through units
|
| Amount: | C$6,374,554
|
| Placement agent: | Canaccord Capital Corp. and Pacific International Securities Inc.
|
| Announcement date: | Nov. 24
|
| Settlement date: | Dec. 24
|
| Stock price: | C$1.05 at close Nov. 24
|
| Stock price: | C$1.05 at close Dec. 24
|
|
|
| Flow-through units
|
| Issue: | Flow-through units of one share and one half-share warrant
|
| Units: | 4,317,951
|
| Price: | C$0.95
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.25 for the first year; C$1.50 for the second year
|
|
|
| Common units
|
| Issue: | Non flow-through units of one share and one warrant
|
| Units: | 2,673,530
|
| Price: | C$0.85
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.10 for the first year; C$1.35 for the second year
|
|
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