By Devika Patel
Knoxville, Tenn., Feb. 9 - Armistice Resources Corp. announced it has engaged D&D Securities Co. for a C$1 million private placement of units.
The company will sell the units at C$0.15 apiece. Each unit will consist of one common share and one half-share warrant, with each whole warrant exercisable at C$0.25 for 18 months.
The warrants may expire sooner if Armistice's shares close at C$0.35 or higher for 30 consecutive trading days.
D&D will receive a 7% cash commission and broker's warrants exercisable into a number of common shares equal to 10% of the number of units sold in the deal. Each broker's warrant will be exercisable at C$0.70 per share for 18 months.
The deal is expected to close on Feb. 26.
Armistice is a gold exploration company based in Toronto.
| Issuer: | Armistice Resources Corp.
|
| Issue: | Units of one common share and one half-share warrant; flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$1 million
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.25
|
| Agent: | D&D Securities Co.
|
| Pricing date: | Feb. 9
|
| Settlement date: | Feb. 26
|
| Stock symbol: | Toronto: AZ
|
| Stock price: | C$0.25 at close Feb. 6
|
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