Non-brokered deal with Resource Capital Fund sells 40 million shares
By Devika Patel
Knoxville, Tenn., Nov. 25 - First Bauxite Corp. said it will conduct a C$5 million non-brokered private placement of stock with Resource Capital Fund V LP.
The company will sell 40 million common shares at C$0.125 apiece, a 25% premium to the Nov. 22 closing share price of C$0.10.
Settlement is expected Dec. 5.
Proceeds will allow the company to improve its financial position and proceed with its work programs.
First Bauxite is based in Vancouver, B.C., and explores and develops bauxite deposits.
| Issuer: | First Bauxite Corp.
|
| Issue: | Common stock
|
| Amount: | C$5 million
|
| Shares: | 40 million
|
| Price: | C$0.125
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Resource Capital Fund V LP
|
| Pricing date: | Nov. 25
|
| Settlement date: | Dec. 5
|
| Stock symbol: | TSX Venture: FBX
|
| Stock price: | C$0.10 at close Nov. 22
|
| Market capitalization: | C$6.98 million
|
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