Deal offers two types of units at C$0.35 per unit and C$0.42 per unit
By Devika Patel
Knoxville, Tenn., May 4 – Colorado Resources Ltd. announced it will raise C$4.03 million in a non-brokered private placement of units.
The company will sell 7.2 million units of one common share and one warrant at C$0.35 per unit and 3.6 million flow-through units of one flow-through common share and one half-share warrant at C$0.42 per unit.
Each unit warrant will be exercisable at C$0.50 for two years. Each whole flow-through unit warrant will be exercisable at C$0.60 for two years. The strike prices are 42.86% and 71.43% premiums to the May 3 closing share price of C$0.35.
The Kelowna, B.C., company explores for gold and silver.
| Issuer: | Colorado Resources Ltd.
|
| Issue: | Units of one common share and one warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$4,032,000
|
| Warrant expiration: | Two years
|
| Agent: | Non-brokered
|
| Pricing date: | May 4
|
| Stock symbol: | TSX Venture: CXO
|
| Stock price: | C$0.35 at close May 3
|
| Market capitalization: | C$20.87 million
|
|
|
| Units
|
| Amount: | C$2.52 million
|
| Units: | 7.2 million
|
| Price: | C$0.35
|
| Warrants: | One warrant per unit
|
| Warrant strike price: | C$0.50
|
|
|
| Flow-through units
|
| Amount: | C$1,512,000
|
| Units: | 3.6 million
|
| Price: | C$0.42
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | C$0.60
|
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