Warrants convert to units of one share and a half-share warrant
By Devika Patel
Knoxville, Tenn., Oct. 12 - Novadx Ventures Corp. said it plans a private placement of special warrants to raise between C$15 million and C$25 million.
The company will sell the special warrants at C$0.05 each to investors. The special warrants are convertible into units of one common share and one half-share warrant, with each whole warrant exercisable at C$0.65 for five years.
The deal will be conducted by Casimir Capital Ltd. Investors include Sandstorm Metals and Energy Ltd.
The coal explorer is based in Vancouver, B.C.
| Issuer: | Novadx Ventures Corp.
|
| Issue: | Special warrants convertible into units of one common share and one half-share warrant
|
| Amount: | C$15 million (minimum), C$25 million
|
| Price: | C$0.05
|
| Warrants: | One half-share warrant per unit upon conversion
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.65
|
| Agent: | Casimir Capital Ltd.
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| Investor: | Sandstorm Metals and Energy Ltd.
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| Pricing date: | Oct. 12
|
| Stock symbol: | TSX Venture: NDX
|
| Stock price: | C$0.04 at close Oct. 11
|
| Market capitalization: | C$3.19 million
|
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