By Laura Lutz
Des Moines, April 23 - Kobex Resources Ltd. increased the size of its previously announced private placement of units to C$24.51 million from C$17,500,425.
The company now plans to sell 8.6 million units of one share and one half-share warrant at C$2.85 per unit. Each whole warrant will be exercisable at C$3.56 for two years.
A syndicate led by Desjardins Securities Inc. and including Raymond James Ltd., Canaccord Capital Corp., Dundee Securities Corp. and Jennings Capital Inc. will underwrite the deal.
The underwriters' greenshoe was also upsized. It now includes up to 1.29 million additional units, for additional total proceeds of up to C$28,186,500.
The deal priced on April 23 as an offering of 6,140,500 units with a greenshoe for 921,100 units.
Settlement is expected on May 10.
Proceeds will be used for exploration and development.
Kobex is a mining company based in Toronto.
| Issuer: | Kobex Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$24.51 million
|
| Units: | 8.6 million
|
| Greenshoe: | For 1.29 million units
|
| Price: | C$2.85
|
| Warrants: | One half-share warrant
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$3.56
|
| Underwriters: | Desjardins Securities Inc. (lead), Raymond James Ltd., Canaccord Capital Corp., Dundee Securities Corp., Jennings Capital Inc.
|
| Pricing date: | April 23
|
| Settlement date: | May 10
|
| Stock symbol: | TSX Venture: KBX
|
| Stock price: | C$3.20 at close April 20
|
| Stock price: | C$3.11 at close April 25
|
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