By Devika Patel
Knoxville, Tenn., April 15 - Crowflight Minerals Inc. announced it plans a C$11 million private placement of stock.
The company will sell 8,065,000 common shares at C$0.62 apiece for C$5 million. It also will sell 8 million flow-through shares at C$0.75 apiece for C$6 million.
The deal will be conducted by a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. and including Versant Partners Inc.
Settlement is expected April 30.
Proceeds will be used for working capital and general corporate purposes.
Crowflight is a resource exploration company based in Toronto.
Issuer: | Crowflight Minerals Inc.
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Issue: | Common shares, flow-through shares
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Amount: | C$11,000,300
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Warrants: | No
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Underwriters: | Macquarie Capital Markets Canada Ltd. (lead), Versant Partners Inc.
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Pricing date: | April 15
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Settlement date: | April 30
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Stock symbol: | TSX Venture: CML
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Stock price: | C$0.62 at close April 15
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Common shares
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Amount: | C$5,000,300
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Shares: | 8,065,000
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Price: | C$0.62
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Flow-through shares
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Amount: | C$6 million
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Shares: | 8 million
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Price: | C$0.75
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