Deal includes 4,285,715 units of a flow-through share, half-share warrant
By Devika Patel
Knoxville, Tenn., Dec. 21 - Debut Diamonds Inc. announced it will raise C$1.5 million in a private placement of units.
The company will sell 4,285,715 units of one flow-through common share and one half-share warrant at C$0.35 per unit. Each whole warrant will be exercisable at C$0.45 for two years. The strike price reflects a 50% premium to the Dec. 20 closing share price of C$0.30.
Proceeds will be used for exploration.
The diamond mining company is based in Toronto.
| Issuer: | Debut Diamonds Inc.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 4,285,715
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.45
|
| Pricing date: | Dec. 21
|
| Stock symbol: | CNSX: DDI
|
| Stock price: | C$0.30 at close Dec. 20
|
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