Strike price is 81.82% premium to company's closing price on Jan. 19
By Devika Patel
Knoxville, Tenn., Jan. 24 - Alder Resources Ltd. said it increased a non-brokered private placement of units to C$3.25 million from C$3 million. The deal priced Jan. 11.
The company will now sell 30 million units of one common share and one half-share warrant at C$0.10 per unit and 1,904,038 units at C$0.1313 per unit.
Each whole warrant is exercisable at C$0.20 for two years. The strike price is an 81.82% premium to the Jan. 10 closing share price of C$0.11.
Settlement is expected Feb. 1.
Proceeds will be used for exploration and for general corporate purposes.
Alder is a Vancouver, B.C.-based resource company focused on the development of gold and base metal projects in Latin America.
| Issuer: | Alder Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$3.25 million
|
| Units: | 31,904,038
|
| Price: | C$0.10 (for 30 million units), C$0.313 (for 1,904,038 units)
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | C$0.20
|
| Warrant expiration: | Two years
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 11
|
| Upsized: | Jan. 24
|
| Settlement date: | Feb. 1
|
| Stock symbol: | TSX Venture: ALR
|
| Stock price: | C$0.11 at close Jan. 10
|
| Market capitalization: | C$8.54 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
