By Laura Lutz
Des Moines, Dec. 24 - Halo Resources Ltd. closed its private placement for C$3.56 million, down from the previously announced size of C$3.65 million.
The placement priced on Nov. 27 for C$2 million. It was upsized to C$3.65 million on Dec. 7.
The company sold 4,652,755 flow-through shares at C$0.47 apiece and 3,273,292 non flow-through units at C$0.42 apiece.
Each unit will consist of one common share and one half-share warrant, with each whole warrant exercisable at C$0.60 for two years.
Proceeds will be used for exploration and general corporate purposes.
Halo is a resource exploration company based in Toronto.
| Issuer: | Halo Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant; flow-through shares
|
| Amount: | C$3,561,577
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 26
|
| Upsized: | Dec. 7
|
| Settlement date: | Dec. 24
|
| Stock symbol: | TSX Venture: HLO
|
| Stock price: | C$0.43 at close Nov. 26
|
|
|
| Units
|
| Units: | 3,273,292
|
| Price: | C$0.42
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.60
|
|
|
| Flow-through shares
|
| Shares: | 4,652,755
|
| Price: | C$0.47
|
| Warrants: | No
|
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