By Sheri Kasprzak
New York, April 3 - Alturas Minerals Inc. said it settled its previously announced private placement with the fully exercised over-allotment for C$6,993,430.
The company sold 32,527,582 special warrants at C$0.215 each, including the greenshoe for 13,652,931 special warrants exercised by a syndicate of agents led by Paradigm Capital Inc. and including Dundee Securities Corp.
The special warrants are exchangeable on a one-for-one basis for units of one share of the amalgamated company and one half-share warrant once Alturas completed its merger with Iron Lake Minerals Inc.
The whole warrants associated with the units are exercisable at C$0.25 each for two years.
Proceeds will be used for exploration on the company's Peruvian gold and copper-gold properties and for working capital.
Based in Penetang, Ont., Alturas is a mineral exploration company.
| Issuer: | Alturas Minerals Inc.
|
| Issue: | Special warrants exchangeable for units of one share and one half-share warrant
|
| Amount: | C$6,993,430
|
| Special warrants: | 32,527,582 (includes greenshoe for 13,652,931 special warrants)
|
| Price: | C$0.215
|
| Warrants: | One half-share warrant per unit upon exchange
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Placement agents: | Paradigm Capital Inc. (lead), Dundee Securities Corp.
|
| Pricing date: | March 28
|
| Settlement date: | April 3
|
| Stock symbol: | TSX Venture: ILM (for Iron Lake)
|
| Stock price: | C$0.285 at close March 28
|
| Stock price: | C$0.285 at close April 3
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