By Sheri Kasprzak
New York, March 30 - Alberta Star Development Corp. said it intends to raise C$9.25 million in a private placement.
The deal includes up to 5 million units at C$1.85 each.
The units consist of one flow-through share and one half-share warrant. The whole warrants allow for the purchase of another share at C$2.10 each for 18 months.
Placement agent Pacific International Securities Inc. has a greenshoe for up to 500,000 additional units.
Proceeds will be used for exploration on the company's Contact Lake property and for working capital.
Based in Vancouver, B.C., Alberta Star is a mineral exploration company focused on iron oxide, copper and gold.
| Issuer: | Alberta Star Development Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$9.25 million (maximum)
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| Units: | 5 million (maximum)
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| Greenshoe: | For up to 500,000 units
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| Price: | C$1.85
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$2.10
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| Placement agent: | Pacific International Securities Inc.
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| Pricing date: | March 30
|
| Stock symbol: | TSX Venture: ASX
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| Stock price: | C$1.95 at close March 29
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