By Devika Patel
Knoxville, Tenn., March 17 - Dynasty Metals & Mining Inc. said it will raise C$15 million in a private placement of units.
The deal, which initially priced on Wednesday for C$10 million and was increased a few hours later, is being conducted via a syndicate of underwriters co-led by Canaccord Financial Ltd. and Cormark Securities Inc.
The company will sell 3.75 million units at C$4.00 apiece. Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$5.00 for one year.
Settlement is expected on April 1.
Proceeds will be used for development of the corporation's Ecuador properties, property acquisitions and general corporate purposes.
Dynasty is a mining company based in Vancouver, B.C.
| Issuer: | Dynasty Metals & Mining Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$15 million
|
| Units: | 3.75 million
|
| Price: | C$4.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$5.00
|
| Agent: | Cormark Securities Inc., Canaccord Financial Ltd. (co-leads)
|
| Pricing date: | March 17
|
| Settlement date: | April 1
|
| Stock symbol: | Toronto: DMM
|
| Stock price: | C$4.44 at close March 16
|
| Market capitalization: | C$158 million
|
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