By Devika Patel
Knoxville, Tenn., April 17 - Rockcliff Resources Inc. said it is repricing its C$5 million private placement of units and stock. The deal priced April 7.
The company now will sell 6.67 million flow-through shares at C$0.60 per share for C$4 million and 1.67 million units at C$0.60 apiece for C$1 million.
The company had planned to sell 5.72 million flow-through shares at C$0.70 per share for C$4 million and 1.54 million units at C$0.65 apiece for C$1 million.
Each unit still comprises one common share and one half-share warrant. Each whole warrant will still be exercisable at C$0.95 for two years.
Dundee Securities Corp is leading a syndicate of agents that includes Blackmont Capital Corp. and Evergreen Capital Partners Inc. The agents have a greenshoe for 1,000,500 shares and 250,500 units for C$750,600, revised from 858,000 shares and 231,000 units, or C$750,750.
Proceeds will be used for exploration and working capital. Settlement is expected April 30.
Sudbury, Ont.-based Rockcliff is a new resource company that is focused on the acquisition and development of high-quality mineral assets.
| Issuer: | Rockcliff Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant; flow-through shares
|
| Amount: | C$5,004,000
|
| Greenshoe: | C$750,600 (1,000,500 shares and 250,500 units)
|
| Agent: | Dundee Securities Corp (lead), Blackmont Capital Corp., Evergreen Capital Partners Inc.
|
| Pricing date: | April 7
|
| Amended: | April 17
|
| Settlement date: | April 30
|
| Stock symbol: | TSX Venture: RCR
|
| Stock price: | C$0.73 at close April 4
|
|
|
| Units
|
| Amount: | C$1,002,000
|
| Units: | 1.67 million
|
| Price: | C$0.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.95
|
|
|
| Flow-through shares
|
| Amount: | C$4,002,000
|
| Shares: | 6.67 million
|
| Price: | C$0.60
|
| Warrants: | No
|
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