By Devika Patel
Knoxville, Tenn., Nov. 7 - Silverstone Resources Corp. priced a C$50 million private placement of stock.
The company said it will sell 17.25 million common shares at C$2.90 per share.
The deal is being conducted by a syndicate of agents led by Scotia Capital Inc. and including PI Financial Corp.
Proceeds of the deal, which is expected to close Nov. 27, will be used to repay debt and for general corporate purposes.
Based in Vancouver, B.C., Silverstone is a silver mining company.
| Issuer: | Silverstone Resources Corp.
|
| Issue: | Common shares
|
| Amount: | C$50 million
|
| Shares: | 17.25 million
|
| Price: | C$2.90
|
| Warrants: | No
|
| Underwriters: | Scotia Capital Inc. (lead), PI Financial Corp.
|
| Pricing date: | Nov. 7
|
| Settlement date: | Nov. 27
|
| Stock symbol: | TSX Venture: SST
|
| Stock price: | C$3.10 at close Nov. 6
|
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