Deal has C$765,000 greenshoe; Stonecap, Cormark Securities are agents
By Devika Patel
Knoxville, Tenn., Dec. 13 - Stikine Energy Corp. said it plans a private placement of units. The C$5.1 million overnight marketed deal has a C$765,000 greenshoe.
The company will sell 17 million units of one common share and one half-share warrant at C$0.30 apiece on a best-efforts basis via a syndicate of agents consisting of Stonecap Securities Inc. and Cormark Securities Inc.
Each whole two-year warrant is exercisable at C$0.40 in the first year and at C$0.50 in the second. The strike prices are 9.59% and 36.99% premiums to the Dec. 10 closing share price of C$0.365.
Settlement is expected Dec. 30.
Proceeds will be used for working capital and general corporate purposes.
The gold and energy exploration company is based in Vancouver, B.C.
| Issuer: | Stikine Energy Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$5.1 million
|
| Greenshoe: | C$765,000
|
| Units: | 17 million
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40 in the first year, C$0.50 in the second year
|
| Agents: | Stonecap Securities Inc. and Cormark Securities Inc.
|
| Pricing date: | Dec. 13
|
| Settlement date: | Dec. 30
|
| Stock symbol: | TSX Venture: SKY
|
| Stock price: | C$0.36 at close Dec. 13
|
| Market capitalization: | C$24.83 million
|
© 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.
