By Sheri Kasprzak
New York, Dec. 6 - Osisko Exploration Ltd. said it has completed an oversubscribed, non-brokered private placement for C$2,330,250.
The company sold 3,585,000 units at C$0.65 each.
The units include one share and one half-share warrant. The whole warrants allow for another share at C$0.80 each for two years.
The offering originally included 3.2 million units under the same terms.
Separately, Pacific International Securities Inc. exercised a greenshoe on Osisko's previously announced private placement of units, bringing the proceeds to C$2,263,625. The company will now sell 3,482,500 units, including the over-allotment option for 382,500 additional units, at C$0.65 each.
The units will be sold under the same terms as the non-brokered deal.
The brokered offering was first announced Oct. 19 as a C$2,015,000 deal comprised of up to 3.1 million units.
EurAsia Holding AG agreed to buy 1.55 million of the units.
Proceeds will be used for drilling on the company's Malartic gold deposit and for general corporate purposes.
Montreal-based Osisko is a gold exploration company.
Non-brokered offering
| Issuer: | Osisko Exploration Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2,330,250
|
| Units: | 3,585,000
|
| Price: | C$0.65
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.80
|
| Placement agent: | Non-brokered
|
| Settlement date: | Dec. 6
|
| Stock price: | C$0.76 at close Dec. 5
|
|
|
| Brokered offering
|
| Issuer: | Osisko Exploration Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2,263,625
|
| Units: | 3,482,500 (includes greenshoe for 382,500 units)
|
| Price: | C$0.65
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.80
|
| Placement agent: | Pacific International Securities Inc.
|
| Investor: | EurAsia Holding AG (for 1.55 million units)
|
| Pricing date: | Oct. 19
|
| Greenshoe exercised: | Dec. 6
|
| Stock price: | C$0.71 at close Oct. 19
|
| Stock price: | C$0.76 at close Dec. 5
|
|
|
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