By Sheri Kasprzak
New York, Oct. 30 - Aquiline Resources Inc. priced and then upsized two private placements for total proceeds of C$20 million.
The company plans to sell, on a brokered basis, 2,150,538 shares at C$4.65 each.
Sprott Securities Inc. is the placement agent for the brokered portion of the deal.
Also, the company intends to sell, on a non-brokered basis, 2,150,538 shares at the same price.
The placements were priced Monday morning for C$7.5 million in proceeds each.
The offerings are set to close Nov. 14.
Proceeds will be used for exploration and development on the company's Calcatreu project in Rio Negro Province, Argentina, as well as for exploration and development at the Navidad project in the Chubut Province, Argentina. The remainder will be used for general corporate purposes and to reimburse IMA Exploration Inc. for costs related to a project development agreement between the two companies.
Toronto-based Aquiline is a gold and silver exploration and development company.
Brokered placement
| Issuer: | Aquiline Resources Inc.
|
| Issue: | Stock
|
| Amount: | C$10 million
|
| Shares: | 2,150,538
|
| Price: | C$4.65
|
| Warrants: | No
|
| Placement agent: | Sprott Securities Inc.
|
| Pricing date: | Oct. 30
|
| Settlement date: | Nov. 14
|
| Stock symbol: | Toronto: AQI
|
| Stock price: | C$4.87 at close Oct. 27
|
|
|
| Non-brokered placement
|
| Issuer: | Aquiline Resources Inc.
|
| Issue: | Stock
|
| Amount: | C$10 million
|
| Shares: | 2,150,538
|
| Price: | C$4.65
|
| Warrants: | No
|
| Placement agent: | Non-brokered
|
| Pricing date: | Oct. 30
|
| Settlement date: | Nov. 14
|
| Stock symbol: | Toronto: AQI
|
| Stock price: | C$4.87 at close Oct. 27
|
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