By Devika Patel
Knoxville, Tenn., May 27 - Levon Resources Ltd. said it has arranged a C$5.1 million private placement of units via agent Salman Partners Inc. There is a C$1 million greenshoe.
The company will sell 7.5 million units at C$0.68 apiece. Each unit consists of one common share and one half-share warrant. Each whole warrant will be exercisable at C$1.10 for one year.
Settlement is expected June 17.
Proceeds will be used for exploration and development and for 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$5.1 million
|
| Greenshoe: | C$1 million
|
| Units: | 7.5 million
|
| Price: | C$0.68
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.10
|
| Agent: | Salman Partners Inc.
|
| Pricing date: | May 27
|
| Settlement date: | June 17
|
| Stock symbol: | TSX Venture: LVN
|
| Stock price: | C$0.70 at close May 27
|
| Market capitalization: | C$45.1 million
|
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