By Laura Lutz
Des Moines, April 16 - Lake Shore Gold Corp. settled a private placement of units and flow-through shares for C$28.75 million, including a fully exercised greenshoe for C$3.75 million.
The company sold 6.875 million units at C$2.00 per unit and 6 million flow-through shares at C$2.50 per share.
Each unit will consist of one non flow-through share and one half-share warrant. Each whole warrant will be exercisable for one non flow-through share at C$2.50 for 18 months.
Canaccord Capital Corp. was the lead underwriter.
The deal priced on March 21 as an offering of 5 million units and 6 million flow-through shares. The underwriters had a greenshoe for up to 15% of the deal size. It could be comprised of any combination of units and flow-through shares.
Proceeds will be used for exploration and development and for general corporate purposes.
Lake Share is a mineral exploration company based in Vancouver, B.C.
| Issuer: | Lake Shore Gold Corp.
|
| Issue: | Units of one share and one half-share warrant; flow-through shares
|
| Amount: | C$28.75 million
|
| Underwriter: | Canaccord Capital Corp. (lead)
|
| Pricing date: | March 21
|
| Settlement date: | April 16
|
| Stock symbol: | Toronto: LSG
|
| Stock price: | C$2.08 at close March 20
|
| Stock price: | C$2.08 at close April 13
|
|
|
| Units
|
| Units: | 6.875 million (includes greenshoe for 1.875 million)
|
| Price: | C$2.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$2.50
|
|
|
| Flow-through shares
|
| Shares: | 6 million
|
| Price: | C$2.50
|
| Warrants: | No
|
© 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.
