Vancouver, B.C., mineral explorer sells equity units at C$2.50 apiece
By Devika Patel
Knoxville, Tenn., Nov. 9 - Eurasian Minerals Inc. said it completed the first tranche of a private placement of units. The deal priced Oct. 4.
The company is selling 7 million units of one common share and a warrant at C$2.50 apiece for C$17.5 million. It sold 6.2 million units in the initial tranche for C$15.5 million. Newmont Mining Corp. bought 1 million units for C$2.5 million.
Each five-year warrant is exercisable at C$3.50 in the first year, C$4.00 in the second year, C$4.50 in the third year, C$5.00 in the fourth year and C$5.50 in the fifth and final year.
The strike prices reflect 8.18%, 40.85%, 58.45%, 76.06% and 93.66% premiums to C$2.84, the Oct. 1 closing share price.
Eurasian expects the second and final tranche of 800,000 units, for C$2 million, will settle shortly.
Based in Vancouver, B.C., Eurasian is a mineral exploration company.
Issuer: | Eurasian Minerals Inc.
|
Issue: | Units of one common share and a warrant
|
Amount: | C$17.5 million
|
Units: | 7 million
|
Price: | C$2.50
|
Warrants: | One warrant per unit
|
Warrant expiration: | Five years
|
Warrant strike price: | C$3.50 in the first year, C$4.00 in the second year, C$4.50 in the third year, C$5.00 in the fourth year and C$5.50 in the fifth year
|
Investor: | Newmont Mining Corp. (for C$2.5 million)
|
Pricing date: | Oct. 4
|
Settlement date: | Nov. 9 (for C$15.5 million)
|
Stock symbol: | TSX Venture: EMX
|
Stock price: | C$2.84 at close Oct. 1
|
Market capitalization: | C$94.52 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.