By Devika Patel
Knoxville, Tenn., Dec. 18 - Levon Resources Ltd. said it has arranged a C$2 million private placement of units via a syndicate of underwriters led by Salman Partners Inc. and including Bolder Investment Partners, Ltd. There is a C$500,000 greenshoe.
The company will sell the units at C$0.35 apiece. Each unit consists of one common share and one half-share warrant. Each whole warrant will be exercisable at C$0.55 for one year.
Settlement is expected Dec. 31.
Proceeds will be used for exploration and development and general working capital requirements.
Based in Vancouver, B.C., Levon Resources is a natural resource explorer.
| Issuer: | Levon Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Greenshoe: | C$500,000
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.55
|
| Agent: | Salman Partners Inc. (lead), Bolder Investment Partners, Ltd.
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 31
|
| Stock symbol: | TSX Venture: LVN
|
| Stock price: | C$0.38 at close Dec. 17
|
| Market capitalization: | C$22.2 million
|
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