Published on 12/17/2009 in the Prospect News PIPE Daily.
New Issue: Melkior Resources completes C$6.06 million placement of stock, units
By Devika Patel
Knoxville, Tenn., Dec. 17 - Melkior Resources Inc. said it settled the second and final tranche of a C$6.06 million private placement of stock and units, raising C$174,990. The deal priced for C$3.6 million on Nov. 30 and was increased to C$5.7 million on Dec. 4. The company raised C$5.88 million on Dec. 15.
In the first tranche, the company sold 9,656,400 flow-through common shares at C$0.33 apiece. It also sold 8,993,001 units at C$0.30 apiece. It sold 303,000 shares and 250,000 units in the second tranche.
Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.40 until Dec. 15, 2010 and at C$0.50 thereafter through Dec. 15, 2011.
M Partners Inc. and Investpro Securities Inc. are co-lead agents for a portion of the deal, with the remainder non-brokered.
Proceeds will be used for exploration.
Ottawa-based Melkior is a uranium, gold and nickel exploration company.
| Issuer: | Melkior Resources Inc.
|
| Issue: | Flow-through common shares, units of one common share and one half-share warrant
|
| Amount: | C$6,059,502
|
| Agents: | M Partners Inc. and Investpro Securities Inc. (for portion)
|
| Pricing date: | Nov. 30
|
| Upsized: | Dec. 4
|
| Settlement dates: | Dec. 15 (for C$5,884,512), Dec. 17 (for C$174,990)
|
| Stock symbol: | TSX Venture: MKR
|
| Stock price: | C$0.40 at close Nov. 30
|
| Market capitalization: | C$27.5 million
|
|
|
| Flow-through shares
|
| Amount: | C$3,286,602
|
| Shares: | 9,959,400
|
| Price: | C$0.33
|
| Warrants: | No
|
|
|
| Units
|
| Amount: | C$2,772,900
|
| Units: | 9,243,001
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Dec. 15, 2011
|
| Warrant strike price: | C$0.40 until Dec. 15, 2010, C$0.50 thereafter
|
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