C$5.02 million greenshoe exercised in full; proceeds fund exploration
By Devika Patel
Knoxville, Tenn., May 3 - Apogee Silver Ltd. said it completed a C$25.03 million private placement of stock. The deal priced for C$20.02 million with a C$5.02 million greenshoe on April 6.
The company sold 89.4 million common shares at C$0.28 per share. Of the shares, 17.9 million were part of the fully exercised greenshoe.
The price per share reflects a 13.85% discount to the April 5 closing share price of C$0.325.
The offering was conducted on a bought-deal basis by a syndicate of underwriters led by National Bank Financial Inc. and Fraser Mackenzie Ltd. and including Desjardins Securities Inc., Jennings Capital Inc., Union Securities Ltd. and Pope & Co. Ltd.
Proceeds will be used for exploration at the Pulacayo deposit in southwest Bolivia, to advance the Pulacayo project toward production and for general corporate purposes.
Apogee is a silver exploration company based in Toronto.
| Issuer: | Apogee Silver Ltd.
|
| Issue: | Common shares
|
| Amount: | C$25,032,000, including C$5,012,000 greenshoe
|
| Shares: | 89.4 million
|
| Price: | C$0.28
|
| Warrants: | No
|
| Agents: | National Bank Financial Inc. and Fraser Mackenzie Ltd. (leads), Desjardins Securities Inc., Jennings Capital Inc., Union Securities Ltd. and Pope & Co. Ltd.
|
| Pricing date: | April 6
|
| Settlement date: | May 3
|
| Stock symbol: | TSX Venture: APE
|
| Stock price: | C$0.325 at close April 5
|
| Market capitalization: | C$32.72 million
|
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