Deal conducted with qualifying transaction sells 17,647,500 receipts
By Devika Patel
Knoxville, Tenn., Jan. 9 - Emerita Gold Corp., formerly Fuller Capital Corp., said it completed a C$3 million non-brokered private placement of subscription receipts. The deal priced for C$3.51 million Aug. 30 and was revised on Oct. 30.
The offering was conducted in connection with the company's qualifying transaction, which was the acquisition of mineral explorer 2244182 Ontario Inc.
The company sold 17,647,500 subscription receipts at C$0.17 apiece. The price per receipt is a 15% discount to the Aug. 29 closing share price of C$0.20. Each receipt will be exchangeable for one share.
The company originally planned to sell 17,553,450 subscription receipts at C$0.20 apiece.
After completing the qualifying transaction, Vancouver, B.C.-based Fuller, a capital pool company, will commence trading as a tier 2 mining company as of Jan. 11 and will focus on the acquisition, exploration and development of mineral properties.
| Issuer: | Emerita Gold Corp.
|
| Issue: | Subscription receipts
|
| Amount: | C$3,000,075
|
| Receipts: | 17,647,500
|
| Price: | C$0.17
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 30
|
| Revised: | Oct. 30
|
| Settlement date: | Jan. 9
|
| Stock symbol: | TSX Venture: FUL.P; TSX Venture: EMO beginning Jan. 11
|
| Stock price: | C$0.20 at close Aug. 29
|
| Market capitalization: | C$1.02 million
|
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