By Laura Lutz
Des Moines, April 2 - Acadian Gold Corp. settled its previously announced private placement of units for C$20,002,500, including a fully exercised greenshoe for C$3.99 million.
The company sold 19.05 million units of one share and one half-share warrant at C$1.05 per unit. Each whole warrant will be exercisable at C$1.35 for 18 months.
Northern Securities Inc. led the underwriters.
The deal priced on March 14. The greenshoe was upsized to C$3.99 million from C$1.995 million on March 16.
Proceeds will be used to advance the company's zinc-lead mine and for general corporate purposes.
Acadian is a gold and zinc mining company based in Halifax, N.S.
| Issuer: | Acadian Gold Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$20,002,500
|
| Units: | 19.05 million (includes greenshoe for 3.8 million units)
|
| Price: | C$1.05
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.35
|
| Underwriter: | Northern Securities Inc. (lead)
|
| Pricing date: | March 14
|
| Amended: | March 16
|
| Settlement date: | April 2
|
| Stock symbol: | TSX Venture: ADA
|
| Stock price: | C$1.20 at close March 13
|
| Stock price: | C$1.06 at close March 16
|
| Stock price: | C$1.17 at close March 30
|
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