By Sheri Kasprzak
New York, Jan. 16 - KPS Ventures Ltd. proposed a C$15 million private placement.
The offering includes up to 30 million subscription receipts.
The receipts will be exchanged for units of one share and one half-share warrant once the company completes its acquisition of Lerida Bay Ltd.
The whole warrants associated with the units are exercisable at C$0.75 each for two years.
Sprott Securities Inc. and GMP Securities LP are the placement agents for the deal.
Proceeds will be used for exploration and development on the company's uranium properties and for general corporate purposes.
Once its acquisition of Lerida Bay is completed, KPS will change its name to Energentia Inc.
Based in Vancouver, B.C., KPS Ventures is a mineral exploration company.
Issuer: | KPS Ventures Ltd.
|
Issue: | Subscription receipts exchangeable for units of one share and one half-share warrant
|
Amount: | C$15 million
|
Receipts: | 30 million
|
Price: | C$0.50
|
Warrants: | One half-share warrant per unit upon exchange
|
Warrant expiration: | Two years
|
Warrant strike price: | C$0.75
|
Placement agents: | Sprott Securities Inc. and GMP Securities LP
|
Pricing date: | Jan. 16
|
Stock symbol: | TSX Venture: KPS.H
|
Stock price: | C$0.66 at close Jan. 16
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.