GMP Securities, Wellington West lead deal for Cerrado Verde project
By Jennifer Chiou
New York, Jan. 11 - Amazon Mining Holding plc announced the final chapter of its previously upsized private placement of stock, raising total gross proceeds of C$10,000,077.
As reported, the deal priced for C$4 million on Dec. 15 and was increased to C$10.01 million on Dec. 16.
The deal was conducted on a best-efforts basis via a syndicate of underwriters led by GMP Securities LP and Wellington West Capital Markets Inc. and including Salman Partners Inc.
In the placement, underwriters initially purchased 960,000 of the ordinary shares at a price of $4.17 per share for gross proceeds of $4,003,200.
In addition, the syndicate completed a best-efforts placement of 1,438,100 shares out of the 1,440,000 shares available under the exercise of the underwriters' option.
In all, 2,398,100 shares were sold.
Amazon added that it paid to the underwriters a commission of $600,004.62, which was 6% of the gross proceeds.
The price per share represents a 16.77% discount to the Dec. 14 closing share price of C$5.01.
Proceeds will be used to develop the Cerrado Verde potash project and as general working capital.
London's Amazon Mining explores for gold and potash.
| Issuer: | Amazon Mining Holding plc.
|
| Issue: | Common shares
|
| Amount: | C$10,000,077
|
| Shares: | 2,398,100
|
| Price: | C$4.17
|
| Warrants: | No
|
| Agents: | GMP Securities LP and Wellington West Capital Markets Inc. (leads), Salman Partners Inc.
|
| Pricing date: | Dec. 15
|
| Upsized: | Dec. 16
|
| Settlement dates: | Dec. 31 (for $4,003,200); Jan. 11 (for $5,996,877)
|
| Stock symbol: | TSX Venture: AMZ
|
| Stock price: | C$5.01 at close Dec. 14
|
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