By Sheri Kasprzak
Atlanta, June 14 - Ripple Lake Diamonds Inc. said it plans to head to the private placement market with a C$1 million offering.
The deal includes 2,222,223 units at C$0.45 each.
The units are comprised of one share and one half-share warrant. The whole warrants allow for an additional share at C$0.50 each for two years.
Canaccord Capital Corp. is the placement agent in the offering.
Based in Vancouver, B.C., Ripple Lake is a diamond exploration company. The proceeds will be used for exploration on the company's KMD property in Nunavut and for its TCH property in Ontario.
| Issuer: | Ripple Lake Diamonds Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1 million
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| Units: | 2,222,223
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| Price: | C$0.45
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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$0.50
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| Placement agent: | Canaccord Capital Corp.
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| Pricing date: | June 13
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| Stock price: | C$0.45 at close June 13
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