By Sheri Kasprzak
New York, March 17 - Energy Metals Corp. said it intends to raise C$22 million in a brokered private placement and C$22 million in a non-brokered deal.
The brokered deal, which is being placed through a syndicate of agents led by Sprott Securities Inc. and GMP Securities LP, includes 4 million units at C$5.50 each.
The units are comprised of one share and one half-share warrant. Each whole warrant allow for the purchase of another share at C$6.50 for two years.
The syndicate has a greenshoe for up to 1 million additional units.
The deal is expected to close April 6.
The non-brokered offering includes the same number of units under the same terms as the brokered deal, including the greenshoe for up to 1 million units.
Proceeds will be used for exploration and development on the company's La Palangana uranium property in Texas and for the refurbishment of the Hobson Central ISL uranium processing facility, and the development of the company's Wyoming properties. The rest will be used for general corporate purposes.
Vancouver, B.C.-based Energy Metals is a uranium exploration company.
Brokered offering
| Issuer: | Energy Metals Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$22 million
|
| Units: | 4 million
|
| Greenshoe: | For 1 million units
|
| Price: | C$5.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$6.50
|
| Placement agent: | Sprott Securities Inc. and GMP Securities LP
|
| Pricing date: | March 17
|
| Settlement date: | April 6
|
| Stock symbol: | TSX Venture: EMC
|
| Stock price: | C$5.46 at close March 17
|
|
|
| Non-brokered offering
|
| Issuer: | Energy Metals Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$22 million
|
| Units: | 4 million
|
| Greenshoe: | For 1 million units
|
| Price: | C$5.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$6.50
|
| Placement agent: | Non-brokered
|
| Pricing date: | March 17
|
| Settlement date: | April 6
|
| Stock symbol: | TSX Venture: EMC
|
| Stock price: | C$5.46 at close March 17
|
|
|
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