Proceeds to advance and develop Verticalnaya anthracite project
By Devika Patel
Knoxville, Tenn., Sept. 30 - Lysander Minerals Corp. said it will now sell 54.8 million units in a private placement of units. The deal priced for C$8 million on Sept. 14 and a portion of it will be conducted by Salman Partners Inc. About C$3.5 million will be conducted on a non-brokered basis.
The company is selling the units at C$0.21 apiece on a best-efforts basis for C$11.51 million. Each unit consists of one common share and one warrant. Each warrant will be exercisable at C$0.30 for one year. The strike price is a 30.44% premium to C$0.23, the Sept. 13 closing share price.
Settlement is expected Oct. 7.
Proceeds will facilitate the advancement and development of the company's Verticalnaya anthracite project in the Donbass coal basin of south-eastern Ukraine.
Based in Vancouver, B.C., Lysander Minerals acquires, explores and develops mineral properties.
| Issuer: | Lysander Minerals Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$11,508,000
|
| Units: | 54.8 million
|
| Price: | C$0.21
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.30
|
| Agent: | Salman Partners Inc. (for about C$8 million), non-brokered (for about C$3.5 million)
|
| Pricing date: | Sept. 14
|
| Upsized: | Sept. 30
|
| Settlement date: | Oct. 7
|
| Stock symbol: | TSX Venture: LYM
|
| Stock price: | C$0.23 at close Sept. 13
|
| Market capitalization: | C$16.83 million
|
© 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.
