By Sheri Kasprzak
New York, Aug. 24 - Alberta Star Development Corp. said it has arranged a private placement for up to C$4.65 million.
The offering includes up to 6 million non flow-through units at C$0.40 each and up to 5 million flow-through units at C$0.45 each.
The non flow-through units are comprised of one non flow-through share and one half-share warrant. The whole warrants are exercisable at C$0.65 each for two years.
The flow-through units are comprised of one flow-through share and one half-share warrant. The whole warrants allow for another non flow-through share at C$0.75 each for two years.
Placement agent Pacific International Securities Inc. has an over-allotment option for up to 1.2 million additional non flow-through units and up to 1 million additional flow-through units.
Proceeds from the offering will be used for ongoing exploration at the company's projects and for working capital.
Based in Vancouver, B.C., Alberta Star is a mineral exploration company.
| Issuer: | Alberta Star Development Corp.
|
| Issue: | Flow-through and non flow-through units
|
| Amount: | C$4.65 million (maximum)
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| Placement agent: | Pacific International Securities Inc.
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| Pricing date: | Aug. 24
|
| Stock price: | C$0.395 at close Aug. 23
|
|
|
| Non flow-through units
|
| Issue: | Units of one non flow-through share and one half-share warrant
|
| Units: | 6 million (maximum)
|
| Greenshoe: | For up to 1.2 million units
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.65
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|
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| Flow-through units
|
| Issue: | Units of one flow-through share and one half-share warrant
|
| Units: | 5 million (maximum)
|
| Greenshoe: | For up to 1 million units
|
| Price: | C$0.45
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
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