Deal funds used to advance properties in Peru, for corporate purposes
By Devika Patel
Knoxville, Tenn., Aug. 2 - Peruvian Precious Metals Corp. announced it plans a C$1.5 million private placement of units via agent Marquest Capital Markets. The offering has a C$300,000 greenshoe.
The company will sell 10 million units of one common share and one half-share warrant at C$0.15 per unit.
Each whole warrant will be exercisable at C$0.25 for two years. The strike price reflects a 66.67% premium to the Aug. 1 closing share price of C$0.15.
Settlement is expected on Aug. 15.
Proceeds will be used to advance the company's properties in Peru and for general corporate purposes.
The gold exploration and development company is based in Vancouver, B.C.
Issuer: | Peruvian Precious Metals Corp.
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Issue: | Units of one common share and a half-share warrant
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Amount: | C$1.5 million
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Greenshoe: | C$300,000
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Units: | 10 million
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Price: | C$0.15
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.25
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Agent: | Marquest Capital Markets
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Pricing date: | Aug. 2
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Settlement date: | Aug. 15
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Stock symbol: | TSX Venture: PPX
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Stock price: | C$0.15 at close Aug. 1
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Market capitalization: | C$18.61 million
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