By Devika Patel
Knoxville, Tenn., Feb. 29 - Alexis Minerals Corp. said it plans to conduct an C$11.7 million private placement of units.
The company will sell 16,714,286 units at C$0.70 per unit. Each unit consists of one common share and one half-share warrant. Each whole warrant will be exercisable at C$1.00 for two years.
The warrants may expire sooner if the company's shares close at C$1.50 or higher for 20 consecutive trading days. In that case, the warrants will expire 30 days after the company notifies holders.
Cormark Securities Inc. will be the lead underwriter of a syndicate, which includes Canaccord Adams and CIBC World Markets Inc.
Proceeds will be used for exploration, development and general working capital purposes. Settlement is expected March 18.
Toronto-based Alexis is a mineral exploration company focused on gold and base metals.
| Issuer: | Alexis Minerals Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$11.7 million
|
| Units: | 16,714,286
|
| Price: | C$0.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00
|
| Underwriters: | Cormark Securities Inc. (lead), Canaccord Adams, CIBC World Markets Inc.
|
| Pricing date: | Feb. 29
|
| Settlement date: | March 18
|
| Stock symbol: | Toronto: AMC
|
| Stock price: | C$0.77 at close Feb. 28
|
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