By Laura Lutz
Washington, Feb. 1 - Everton Resources Inc. increased the size of its previously announced private placement of units to C$12.5 million from C$10 million.
The company now plans to issue up to 10 million units of one share and one half-share warrant at C$1.25 per unit. Each whole warrant will be exercisable at C$1.65 for 18 months.
Expiry of the warrants will be accelerated to 30 days if the weighted average price of the company's shares is at least C$2.50 for 20 consecutive days.
The placement priced on Jan. 31 as an offering of up to 8 million units.
The deal will be placed through a syndicate of agents led by Orion Securities Inc. and including Canaccord Adams Inc.
Proceeds will be used for exploration and development and for general corporate purposes.
Settlement is expected in mid-February.
Everton is a resource exploration company based in Ottawa.
Issuer: | Everton Resources Inc.
|
Issue: | Units of one share and one half-share warrant
|
Amount: | C$12.5 million
|
Units: | 10 million
|
Price: | C$1.25
|
Warrants: | One half-share warrant per unit
|
Warrant expiration: | 18 months
|
Warrant strike price: | C$1.65
|
Agents: | Orion Securities Inc. (lead), Canaccord Adams Inc.
|
Pricing date: | Jan. 31
|
Upsized: | Feb. 1
|
Stock symbol: | TSX Venture: EVR
|
Stock price: | C$1.26 at close Jan. 31
|
© 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.