By Sheri Kasprzak
New York, Oct. 7 - Aquiline Resources Inc. said it has priced a C$7.95 million non-brokered private placement.
The offering includes 4.75 million non flow-through units at C$1.60 each and 200,000 flow-through units at C$1.75 each.
The non flow-through units include one non flow-through share and one half-share warrant. The whole warrants are exercisable at C$2.00 each for one year.
The flow-through units include one flow-through share and one half-share warrant. The whole warrants are exercisable at C$2.00 each for one year.
The investors are entitled to receive a secondary warrant for each primary warrant exercised. The secondary warrants are exercisable at C$3.00 each through the second anniversary of the closing date.
Proceeds from the non flow-through units will be used for exploration and development on the company's Calcatereu gold and silver project in Argentina, and the proceeds from the flow-through units will be used for exploration on the company's platinum projects in Ontario.
Based in Toronto, Aquiline is a mineral exploration company.
| Issuer: | Aquiline Resources Inc.
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| Issue: | Non flow-through and flow-through units of one share and one half-share warrant
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| Amount: | C$7.95 million
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| Pricing date: | Oct. 7
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| Stock price: | C$1.50 at close Oct. 6
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| Non flow-through units
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| Units: | 4.75 million
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| Price: | C$1.60
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$2.00
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| Flow-through units
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| Units: | 200,000
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| Price: | C$1.75
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$2.00
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