Stonecap Securities assists in funding exploration, working capital
By Devika Patel
Knoxville, Tenn., Dec. 23 - Sona Resources Corp. said it conducted a private placement of units. The best-efforts deal was announced Nov. 19 and priced for C$5 million with a 25% greenshoe on Dec. 6. Stonecap Securities Inc. helped raise a total of C$3.21 million.
The company sold 2,134,000 flow-through units at C$1.25 apiece for C$2.67 million. Each flow-through unit consists of one flow-through common share and one half-share warrant.
The company also sold 488,900 units at C$1.10 apiece for C$537,790. Each unit consists of one common share and one half-share warrant.
Each warrant is exercisable at C$1.50 until Dec. 22, 2012. The strike price represents a 3.45% premium to the Dec. 3 closing share price of C$1.45.
Proceeds will be used for exploration, working capital and general corporate purposes.
Vancouver, B.C.-based Sona is a gold exploration company.
| Issuer: | Sona Resources Corp.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant, units of one common share and one half-share warrant
|
| Amount: | C$3,205,290
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Dec. 22, 2012
|
| Warrant strike price: | C$1.50
|
| Agent: | Stonecap Securities Inc.
|
| Announcement date: | Nov. 19
|
| Pricing date: | Dec. 6
|
| Settlement date: | Dec. 23
|
| Stock symbol: | TSX Venture: SYS
|
| Stock price: | C$1.45 at close Dec. 3
|
| Market capitalization: | C$24.28 million
|
|
|
| Flow-through units
|
| Amount: | C$2,667,500
|
| Units: | 2,134,000
|
| Price: | C$1.25
|
|
|
| Units
|
| Amount: | C$537,790
|
| Units: | 488,900
|
| Price: | C$1.10
|
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