By Devika Patel
Knoxville, Tenn., Nov. 5 - Exmin Resources Inc. said it has completed the remaining part of a greenshoe, lifting its private placement of units to C$1.5 million. The deal priced on Oct. 9 for up to C$1 million, plus a C$500,000 over-allotment option, which was exercised in part at closing.
On Nov. 2, the company sold 718,500 units, completing the over-allotment.
The company sold a total of 3.75 million units of one share and one half-share warrant at C$0.40 per unit.
As previously reported, each whole warrant will be exercisable at C$0.50 for two years.
Union Securities Ltd., the agent, was paid a 7% cash commission and also received broker warrants to purchase a number of units equal to 8% of the units sold. Each broker warrant is exercisable at C$0.40 per unit for two years.
Exmin is a precious metals exploration and development company based in Vancouver, B.C.
| Issuer: | Exmin Resources Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1.5 million, including C$500,000 greenshoe
|
| Units: | 3.75 million
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
| Agent: | Union Securities Ltd.
|
| Fees: | 7% in cash, 8% in warrants
|
| Pricing date: | Oct. 9
|
| Settlement date: | Oct. 24
|
| Greenshoe closing: | Nov. 2
|
| Stock symbol: | TSX Venture: EXM
|
| Stock price: | C$0.395 at close Oct. 9
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