By Laura Lutz
Des Moines, Sept. 26 - Stealth Ventures Ltd. settled two previously announced private placements for C$8.14 million.
The company settled the brokered portion of a private placement of units and shares announced on Aug. 31, for proceeds of $7.14 million.
In that deal, the company sold 1,337,500 units of one share and one half-share warrant for C$1.60 per unit and 2,941,176 flow-through shares for C$1.70 per share.
Those warrants are exercisable at C$2.30 for 18 months. The expiry of the warrants may be accelerated to 21 days if the company's shares close at or above C$3.75 for 20 consecutive days.
D&D Securities Co. was the placement agent for that offering.
Stealth Ventures also closed the C$1 million final tranche of a non-brokered private placement announced on Aug. 31 and upsized to C$8,360,025 on Sept. 21.
The final tranche of the placement had been delayed until the company received regulatory approval for the upsized amount.
In the last tranche, the company sold 625,000 units of one share and one half-share warrant for C$1.60 per unit. The warrants carry the same terms described above.
Including the last tranche, the total non-brokered placement included 5,225,016 units with the same terms.
Stealth Ventures is a Calgary, Alta.-based oil and gas company.
Brokered placement
| Issuer: | Stealth Ventures Ltd.
|
| Issue: | Units of one share and one half-share warrant and flow-through shares
|
| Amount: | C$7.14 million
|
| Agent: | D&D Securities Co.
|
| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 26
|
| Stock symbol: | TSX Venture: SLV
|
| Stock price: | C$1.57 at close on Aug. 31
|
| Stock price: | C$1.42 at close on Sept. 26
|
|
|
| Units
|
| Units: | 1,337,500
|
| Price: | C$1.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$2.30
|
|
|
| Flow-through shares
|
| Shares: | 2,941,176
|
| Price: | C$1.70
|
| Warrants: | No
|
|
|
| Non-brokered placement
|
| Issuer: | Stealth Ventures Ltd.
|
| Issue: | Units of one share and one half-share warrant and flow-through shares
|
| Amount: | C$8,360,025
|
| Units: | 5,225,016
|
| Price: | C$1.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$2.30
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 31
|
| Upsized: | Sept. 21
|
| Settlement date: | Sept. 26
|
| Stock symbol: | TSX Venture: SLV
|
| Stock price: | C$1.57 at close on Aug. 31
|
| Stock price: | C$1.40 at close on Sept. 21
|
| Stock price: | C$1.42 at close on Sept. 26
|
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