C$1.65 million greenshoe fully exercised; deal finances exploration
By Devika Patel
Knoxville, Tenn., Dec. 20 - Mirasol Resources Ltd. said it settled a C$13.2 million private placement of units. The deal priced for C$11.55 million private placement of units with a C$1.65 million greenshoe on Nov. 28.
The company sold 4 million units of one common share and one half-share warrant at C$3.30 per unit. Of the units, 500,000 were part of the fully exercised greenshoe.
Each whole two-year warrant is exercisable at C$4.30. The strike price reflects a 30.3% premium to the Nov. 25 closing share price of C$3.30.
The deal was conducted by a syndicate of underwriters led by Haywood Securities Inc. and including Macquarie Capital Markets Canada Inc., Paradigm Capital Inc. and Sprott Private Wealth LP.
Proceeds will be used for exploration activities on the Virginia Silver Project, exploration and development activities at other properties and general corporate purposes.
Mirasol is an exploration and development company based in Vancouver, B.C.
| Issuer: | Mirasol Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$13.2 million (including C$1.65 million greenshoe exercise)
|
| Units: | 4 million
|
| Price: | C$3.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$4.30
|
| Underwriters: | Haywood Securities Inc. (lead), Macquarie Capital Markets Canada Inc., Paradigm Capital Inc. and Sprott Private Wealth LP
|
| Pricing date: | Nov. 28
|
| Settlement date: | Dec. 20
|
| Stock symbol: | TSX Venture: MRZ
|
| Stock price: | C$3.30 at close Nov. 25
|
| Market capitalization: | C$115.03 million
|
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