By Laura Lutz
Des Moines, Oct. 29 - Osisko Exploration Ltd. plans to conduct a private placement of special warrants for C$75.08 million.
The company plans to sell 11.55 million special warrants at C$6.50 each.
Westwind Partners Inc. will lead the syndicate of underwriters.
Each special warrant will be exchangeable for one unit.
The special warrants will be exchanged upon the earliest of three business days after the underlying units are authorized and four months plus one day after settlement of the placement.
The units will each consist of one share and one half-share warrant, and each whole warrant will be exercisable at C$7.90 for two years.
The underwriters have a greenshoe for up to 7.7 million additional special warrants, exercisable up to two days before closing.
Proceeds will be used for exploration and development.
Settlement is expected on Nov. 15.
Osisko is a Toronto-based resource exploration company.
| Issuer: | Osisko Exploration Ltd.
|
| Issue: | Special warrants exchangeable for units of one share and one half-share warrant
|
| Amount: | C$75,075,000
|
| Special warrants: | 11.55 million
|
| Greenshoe: | For 7.7 million special warrants
|
| Price: | C$6.50
|
| Warrants: | One per unit upon exchange
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$7.90
|
| Underwriter: | Westwind Partners Inc. (lead)
|
| Pricing date: | Oct. 29
|
| Settlement date: | Nov. 15
|
| Stock symbol: | TSX Venture: OSK
|
| Stock price: | C$7.15 at close Oct. 29
|
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