Brokered deal doubles in size; company also plans non-brokered sale
By Devika Patel
Knoxville, Tenn., Sept. 8 - Orko Silver Corp. said it has increased a private placement of stock to about C$14 million. The deal was announced as a C$7 million offering on Sept. 1. It is being conducted via lead agent GMP Securities LP. The syndicate of agents, which also includes Byron Securities Ltd., has a C$1 million greenshoe. The company also plans to raise about C$1.41 million in a non-brokered private placement.
In the Sept. 1 deal, the company will sell common shares on a best-efforts basis at C$1.65 per share. The per-share price is a 7.3% discount to C$1.78, the Sept. 7 closing share price.
Concurrent with the Sept. 1 offering, the company intends to raise about C$1.41 million in a non-brokered private placement by selling approximately 852,000 common shares at the same price to a group of European investors and Pan American Silver Corp.
Settlement is expected Sept. 21.
Proceeds will be used for general corporate purposes.
Orko Silver is a Vancouver, B.C., gold and silver exploration and development company.
| Issuer: | Orko Silver Corp.
|
| Issue: | Common shares
|
| Amount: | C$15.41 million (approximate)
|
| Settlement date: | Sept. 21
|
| Stock symbol: | TSX Venture: OK
|
| Stock price: | C$1.78 at close Sept. 7
|
| Market capitalization: | C$202.91 million
|
|
|
| Sept. 1 deal
|
| Amount: | C$14 million (approximate)
|
| Greenshoe: | C$1 million
|
| Price: | C$1.65
|
| Warrants: | No
|
| Agent: | GMP Securities LP (lead), Byron Securities Ltd.
|
| Announcement date: | Sept. 1
|
|
|
| Sept. 8 deal
|
| Amount: | C$1.41 million (approximate)
|
| Shares: | 852,000 (approximate)
|
| Price: | C$1.65
|
| Warrants: | No
|
| Agent: | Non-brokered
|
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