Vancouver, B.C., mineral explorer sells equity units at C$2.50 apiece
By Devika Patel
Knoxville, Tenn., Nov. 15 - Eurasian Minerals Inc. said it completed the second and final tranche of a private placement of units. The deal priced on Oct. 4 and the company settled a first tranche on Nov. 9.
The company sold a total of 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 and 800,000 units in the second tranche for C$2 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 23.24%, 40.85%, 58.45%, 76.06% and 93.66% premiums, respectively, to C$2.84, the Oct. 1 closing share price.
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), Nov. 15 (for C$2 million)
|
| Stock symbol: | TSX Venture: EMX
|
| Stock price: | C$2.84 at close Oct. 1
|
| Market capitalization: | C$98.2 million
|
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