By Sheri Kasprzak
New York, Dec. 23 - Osisko Exploration Ltd. said it has concluded a private placement of units for C$2,330,250, bringing to C$4,593,875 the total proceeds raised from the deal.
The company most recently issued 3,585,000 units at C$0.65 each.
The units are comprised of one share and one half-share warrant. The whole warrants are exercisable at C$0.80 each for two years.
EurAsia Holdings AG bought 1.45 million units.
First Canadian Capital Markets Ltd. and Canaccord Capital Corp. were the agents for the deal.
The first tranche of the deal closed on Dec. 16 for C$2,263,625 under the same terms.
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.
| 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 agents: | First Canadian Capital Markets Ltd. and Canaccord Capital Corp.
|
| Investor: | EurAsia Holdings AG (for 1.45 million units)
|
| Settlement date: | Dec. 23
|
| Stock price: | C$1.45 at close Dec. 23
|
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