Deal consists of two types of units with one-year attached warrants
By Devika Patel
Knoxville, Tenn., Nov. 28 - Integra Gold Corp. said it priced a C$5 million private placement of units on Nov. 25. The deal is being conducted by Industrial Alliance Securities Inc. on a best-efforts basis and has a 15% greenshoe.
The company will sell up to C$500,000 of non flow-through units of one common share and one half-share warrant at C$0.40 per unit along with flow-through units of one flow-through common share and one half-share warrant at C$0.50 per unit.
The whole warrants are each exercisable at C$0.65 for one year. The strike price reflects a 62.5% premium to the Nov. 24 closing share price of C$0.40.
Settlement is expected Dec. 12.
Proceeds will be used for exploration, expenditures at the Lamaque property and working capital.
Based in Vancouver, B.C., Integra is a gold and diamond exploration company.
| Issuer: | Integra Gold Corp.
|
| Issue: | Non flow-through units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$5 million
|
| Greenshoe: | 15%
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.65
|
| Agent: | Industrial Alliance Securities Inc.
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| Pricing date: | Nov. 25
|
| Settlement date: | Dec. 12
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| Stock symbol: | TSX Venture: ICG
|
| Stock price: | C$0.39 at close Nov. 25
|
| Market capitalization: | C$16.15 million
|
|
|
| Non flow-through units
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| Amount: | C$500,000 (maximum)
|
| Price: | C$0.40
|
|
|
| Flow-through units
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| Price: | C$0.50
|
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