Deal sells 40 million units of a share, a warrant at C$0.125 per unit
By Devika Patel
Knoxville, Tenn., June 1 – Strongbow Exploration Inc. said on Tuesday that it plans a C$5 million non-brokered private placement of units.
The company will sell 40 million units of one common share and one warrant at C$0.125 per unit.
Each warrant will be exercisable at C$0.20 for three years. The strike price reflects a 42.86% premium to the May 30 closing share price of C$0.14.
Proceeds will be used to acquire the South Crofty tin project and for general working capital.
The nickel, gold, tin and copper exploration company is based in Vancouver, B.C.
| Issuer: | Strongbow Exploration Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$5 million
|
| Units: | 40 million
|
| Price: | C$0.125
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | May 31
|
| Stock symbol: | TSX Venture: SBW
|
| Stock price: | C$0.14 at close May 30
|
| Market capitalization: | C$3.59 million
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
