By Devika Patel
Knoxville, Tenn., Nov. 6 - Aquiline Resources Inc. said it took in C$3.23 million in the second and final tranche of a C$10.62 million non-brokered private placement of units.
The deal priced for C$10 million on Oct. 9 and the company revised the terms on Oct. 20. The company raised C$7.39 million from the first tranche on Oct. 23.
The company sold 5.31 million units of one common share and one warrant at C$2.00 apiece. It sold 3,695,000 units in the first tranche and 1,615,000 units in this one.
The warrants are exercisable atC$2.50, not C$3.00, for three years, rather than five years.
The deal priced as 4 million units, which were to be sold at C$2.50 per unit. The company then said it planned to sell 5 million units at C$2.00 apiece.
Proceeds will be used for exploration and development.
Toronto-based Aquiline is a gold and silver exploration and development company.
| Issuer: | Aquiline Resources Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$10.62 million
|
| Units: | 5.31 million
|
| Price: | C$2.00
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$2.50
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 9
|
| Amended: | Oct. 20
|
| Settlement date: | Oct. 23 (for C$7.39 million), Nov. 5 (for C$3.23 million)
|
| Stock symbol: | Toronto: AQI
|
| Stock price: | C$2.82 at close Oct. 8
|
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