By Devika Patel
Knoxville, Tenn., Feb. 29 - Xemplar Energy Corp. said it plans to conduct a C$10 million private placement of units. The deal priced Friday, and the company increased the over-allotment option a few hours later.
The company will sell 3,334,000 units at C$3.00 each on a bought-deal basis. The units consist of one common share and one half-share warrant. Each whole warrant is exercisable at C$4.00 for two years.
Canaccord Capital Corp., the underwriter, has a greenshoe for an additional C$10 million of units and will be paid a 7% commission, along with 7% in broker warrants. The greenshoe originally was to be C$5 million.
Proceeds will be used to advance the company's mineral projects in Namibia and for general working capital.
Based in Burnaby, B.C., Xemplar Energy is a uranium exploration company.
| Issuer: | Xemplar Energy Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$10,002,000
|
| Greenshoe: | C$10,002,000
|
| Units: | 3,334,000
|
| Price: | C$3.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$4.00
|
| Underwriter: | Canaccord Capital Corp.
|
| Fees: | 7% in cash and warrants
|
| Pricing date: | Feb. 29
|
| Stock symbol: | TSX Venture: XE
|
| Stock price: | C$3.55 at close Feb. 28
|
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