By Devika Patel
Knoxville, Tenn., June 12 - Orko Silver Corp. said it took in C$12.08 million from a private placement of stock. The deal priced May 20 for C$10.07 million with a C$2.01 million greenshoe.
The company sold 7.32 million common shares at C$1.65 per share. Of those shares, 1.22 million were part of the fully exercised greenshoe.
The deal was conducted by a syndicate of underwriters co-led by GMP Securities LP and BMO Capital Markets Inc. and including Haywood Securities Inc. and Macquarie Capital Markets Canada Ltd.
Proceeds will be used for the continuing exploration program on Orko's Mexican mining properties and for general corporate purposes including working capital.
Orko, located in Vancouver, B.C., is a gold and silver exploration and development company.
| Issuer: | Orko Silver Corp.
|
| Issue: | Common shares
|
| Amount: | C$12,078,000 (including C$2,013,000 greenshoe)
|
| Shares: | 7.32 million
|
| Price: | C$1.65
|
| Warrants: | No
|
| Underwriters: | GMP Securities LP, BMO Capital Markets Inc. (co-leads), Haywood Securities Inc., Macquarie Capital Markets Canada Ltd.
|
| Pricing date: | May 20
|
| Settlement date: | June 12
|
| Stock symbol: | TSX Venture: OK
|
| Stock price: | C$1.80 at close May 19
|
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