New York, Nov. 11 - Monster Copper Corp. said it has downsized its planned private placement to C$0.5 million from C$1,507,500 and cut pricing.
The deal now includes up to 2 million units at C$0.25 each, reduced from up to 3.35 million units at C$0.45 each as originally announced on Oct. 3.
The units continue to be comprised of one share and one half-share warrant. But the whole warrants are now exercisable at C$0.35 each for two years instead of C$0.75.
Placement agents Pacific International Securities Inc. and Canaccord Capital Corp. have an over-allotment option for up to 400,000 additional units, reduced from 1.5 million.
Monster Copper attributed the changes to market conditions.
Based in Richmond Hill, Ont., Monster Copper is a copper-gold-uranium exploration company.
| Issuer: | Monster Copper Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$0.5 million (maximum)
|
| Units: | 2 million (maximum)
|
| Greenshoe: | 400,000 units
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.35
|
| Placement agents: | Pacific International Securities Inc. and Canaccord Capital Corp.
|
| Pricing date: | Oct. 3, downsized Nov. 11
|
| Stock price: | C$0.50 at close Oct. 3
|
| Stock price: | C$0.25 at close Nov. 9 (last trade)
|
|
|
© 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.
