By Devika Patel
Knoxville, Tenn., March 13 - Helio Resource Corp. priced a C$2.8 million brokered private placement of units and a $2.45 million non-brokered units sale.
For the brokered placement, the company said it has engaged Dundee Securities Corp. and Primary Capital Inc. to be part of a syndicate that includes Toll Cross Securities.
Helio will sell 8 million units at C$0.35 each in this deal.
In the non-brokered deal, the company will sell 7 million units at the same price to Macquarie Bank Ltd.
The units consist of one common share and one half-share warrant with each whole two-year warrant exercisable at C$0.50 for the first year and at C$0.60 in the second year.
Settlement of both deals is expected April 7.
Proceeds will be used for advancement of the SMP gold project in Tanzania and general corporate working capital.
Based in Vancouver, B.C., Helio is a mineral exploration company, focused on high-quality project generation in southern Africa.
| Issuer: | Helio Resource Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$5.25 million
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50 in the first year, C$0.60 thereafter
|
| Pricing date: | March 13
|
| Settlement date: | April 7
|
| Stock symbol: | TSX Venture: HRC
|
| Stock price: | C$0.325 at close March 12
|
|
|
| Brokered deal
|
| Amount: | C$2.8 million
|
| Units: | 8 million
|
| Agent: | Dundee Securities Corp., Primary Capital Inc., Toll Cross Securities
|
|
|
| Non-brokered deal
|
| Amount: | C$2.45 million
|
| Units: | 7 million
|
| Agent: | Non-brokered
|
| Investor: | Macquarie Bank Ltd.
|
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