Non-brokered offering sells units with half-share warrants at C$0.40
By Devika Patel
Knoxville, Tenn., March 28 - Lago Dourado Minerals Ltd. said it increased its non-brokered private placement of units to C$10 million from C$8 million. The deal priced March 7.
The company will now sell 25 million units of one common share and one half-share warrant at C$0.40 per unit.
Each whole warrant will be exercisable at C$0.60 for 18 months. The strike price reflects a 51.9% premium to C$0.395, the March 6 closing share price.
The settlement of the first tranche is expected March 30. The settlement of a second tranche is scheduled for April 5.
Lago Dourado is a Toronto-based gold explorer.
Issuer: | Lago Dourado Minerals Ltd.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$10 million
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Units: | 25 million
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Price: | C$0.40
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Warrants: | One half-share warrant per unit
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Warrant expiration: | 18 months
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Warrant strike price: | C$0.60
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Agent: | Non-brokered
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Pricing date: | March 7
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Upsized: | March 28
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Settlement dates: | March 30, April 5
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Stock symbol: | TSX Venture: LDM
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Stock price: | C$0.395 at close March 6
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Market capitalization: | C$28.68 million
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