Offering sells units of common shares with warrants at C$0.13 per unit
By Devika Patel
Knoxville, Tenn., Sept. 22 – Aquila Resources Inc. said it completed a C$1.17 million non-brokered private placement of units. The deal priced for C$1 million on Aug. 18.
The company sold 8,972,354 units of one common share and one warrant at C$0.13 per unit.
Each warrant will be exercisable at C$0.15 for three years. The strike price reflects a 7.14% premium to the Aug. 15 closing share price of C$0.14.
Baker Steel Capital Managers LLP bought 3,846,154 units for C$500,000.
Proceeds will be used for exploration and development of Back Forty and general working capital purposes.
Toronto-based Aquila is a copper, gold and silver exploration company.
| Issuer: | Aquila Resources Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,166,406
|
| Units: | 8,972,354
|
| Price: | C$0.13
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Investor: | Baker Steel Capital Managers LLP (for C$500,000)
|
| Pricing date: | Aug. 18
|
| Settlement date: | Sept. 22
|
| Stock symbol: | Toronto: AQA
|
| Stock price: | C$0.14 at close Aug. 15
|
| Market capitalization: | C$27.47 million
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