Deal lifted from C$3.2 million, funds exploration on Lamaque property
By Devika Patel
Knoxville, Tenn., Aug. 28 - Integra Gold Corp. said it increased its non-brokered private placement of units and stock to C$4.35 million from C$3.2 million and raised C$542,210 in the second tranche. The best-efforts deal priced for C$2.8 million on Aug. 2 and was increased to C$3.2 million on Aug. 12, the same date that the company raised C$2.96 million in the first tranche.
The company is selling units of one common share and a half-share warrant at C$0.15 per unit. Each whole warrant will be exercisable at C$0.23 for two years.
Integra also is selling flow-through common shares at C$0.185 apiece.
The price per share is a 15.63% premium to the Aug. 1 closing share price of C$0.16. The warrant strike price is a 43.75% premium to that price.
In the initial tranche, the company sold 13,887,297 flow-through shares and 2.62 million units. It sold 1,456,405 flow-through shares and 1,818,500 units in the second tranche. Settlement of the final tranche is expected Sept. 5.
Proceeds will be used for exploration, expenditures on the company's Lamaque property and for working capital.
Based in Vancouver, B.C., Integra is a gold and diamond exploration company.
| Issuer: | Integra Gold Corp.
|
| Issue: | Units of one common share and a half-share warrant, flow-through common shares
|
| Amount: | C$4.35 million
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 2
|
| Upsized: | Aug. 12, Aug. 28
|
| Settlement date: | Aug. 12 (for C$2,962,150), Aug. 28 (for C$542,210), Sept. 5
|
| Stock symbol: | TSX Venture: ICG
|
| Stock price: | C$0.16 at close Aug. 1
|
| Market capitalization: | C$18.03 million
|
|
|
| Units
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.23
|
|
|
| Stock
|
| Price: | C$0.185
|
| Warrants: | No
|
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