By Sheri Kasprzak
New York, March 1 - Exmin Resources Inc. has increased the size of its previously announced private placement to C$1,925,000.
The company will now sell up to 12,833,333 units at C$0.15 each.
The units are comprised of one share and one half-share warrant. The whole warrants are exercisable at C$0.20 each for two years.
Of the shares, 1.5 million will be offered on a non-brokered basis. The rest will be sold through agent Union Securities Ltd.
Union has a greenshoe for up to 15% of the offering size.
The deal priced on Feb. 28 as a C$1.2 million offering of 8 million units under the same terms.
The company expects the deal to close on March 2.
Based in Vancouver, B.C., Exmin is a precious metals exploration and development company.
| Issuer: | Exmin Resources Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1,925,000
|
| Units: | 12,833,333
|
| Greenshoe: | For 15% of offering size
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Placement agent: | Union Securities Ltd. (for all but 1.5 million units)
|
| Pricing date: | Feb. 28
|
| Upsized: | March 1
|
| Settlement date: | March 2
|
| Stock symbol: | TSX Venture: EXM
|
| Stock price: | C$0.185 at close Feb. 28
|
| Stock price: | C$0.225 at close March 1
|
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