By Devika Patel
Knoxville, Tenn., June 2 - Erdene Resource Development Corp. announced a C$15 million private placement of stock.
The company plans to sell 15 million common shares at C$1.00 apiece.
Toll Cross Securities Inc. and National Bank Financial Inc. will be co-lead agents. Acadian Securities Inc., Beacon Securities Ltd. and Citadel Securities Inc. also are members of the selling group. The agents have a greenshoe of 5 million shares, or C$5 million.
Settlement is expected June 19.
Proceeds will be used for mineral exploration and development activities and for general corporate purposes.
Erdene, formerly Erdene Gold Inc., is a resource exploration company based in Dartmouth, N.S.
| Issuer: | Erdene Resource Development Corp.
|
| Issue: | Common shares
|
| Amount: | C$15 million
|
| Greenshoe: | C$5 million
|
| Shares: | 15 million
|
| Price: | C$1.00
|
| Warrants: | No
|
| Agents: | Toll Cross Securities Inc., National Bank Financial Inc. (co-leads), Acadian Securities Inc., Beacon Securities Ltd., Citadel Securities Inc.
|
| Pricing date: | June 2
|
| Settlement date: | June 19
|
| Stock symbol: | Toronto: ERD
|
| Stock price: | C$0.98 at close May 30
|
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