By Sheri Kasprzak
New York, Feb. 9 - AfriOre Ltd. said the greenshoe has been exercised on its previously announced C$20,057,500 private placement, moving the proceeds up to C$22,081,000.
The company will now issue 6.22 million shares at C$3.55 each, including a greenshoe for 570,000 shares, exercised by a syndicate of underwriters led by Westwind Partners Inc. and Canaccord Capital Corp., and including Blackmont Capital Inc. and TD Securities Inc.
The company priced the offering on Jan. 24.
Proceeds will be used for exploration on the company's mineral projects and for general corporate purposes.
Based in Road Town, Tortola, British Virgin Islands, AfriOre is a gold and platinum exploration company.
| Issuer: | AfriOre Ltd.
|
| Issue: | Stock
|
| Amount: | C$22,081,000
|
| Shares: | 6.22 million (Greenshoe for 570,000 shares)
|
| Price: | C$3.55
|
| Warrants: | No
|
| Underwriters: | Westwind Partners Inc. (lead), Canaccord Capital Corp. (lead), Blackmont Capital Inc., TD Securities Inc.
|
| Pricing date: | Jan. 24
|
| Settlement date: | Feb. 9
|
| Stock symbol: | Toronto: AFO
|
| Stock price: | C$3.69 at close Jan. 24
|
| Stock price: | C$3.45 at close Feb. 9
|
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