By Sheri Kasprzak
Atlanta, Nov. 5 - Sabina Resources Ltd. said Friday it completed a C$7,089,148.50 private placement.
The company sold 4,726,099 units of one flow-through share and one non-transferable half-share purchase warrant at C$1.50 per unit.
The whole warrants are exercisable for 18 months at C$2.20 for one non flow-through share.
Pacific International Securities Inc., Canaccord Capital Corp. and Dundee Securities Corp. acted as placement agents in the deal and will receive C$352,957.43 in cash commissions and a total of 376,487 shares as agents' options. The agents' options may be exercised for 18 months at C$1.65 for one share and one non-transferable share warrant. The whole warrants allow for the purchase of an additional share at C$2.25 for 18 months.
Sabina is a Toronto-based gold and base metal exploration company. It plans to use the proceeds from the offering for exploration of its Canadian resource properties.
| Issuer: | Sabina Resources Ltd.
|
| Issue: | Units of one flow-through share and one non-transferable half-share warrant
|
| Amount: | C$7,089,148.50
|
| Shares: | 4,726,099 units
|
| Price: | C$1.50 per unit
|
| Warrants: | One non-transferable half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$2.20
|
| Placement agent: | Pacific International Securities Inc., Canaccord Capital Corp., and Dundee Securities Corp.
|
| Announcement date: | Nov. 5
|
| Stock price: | C$1.16 at close Nov. 5
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
