Company funds exploration work in Northwest Territories and the Yukon
By Devika Patel
Knoxville, Tenn., Dec. 17 - Sanatana Diamonds Inc. said it has increased a private placement of units and stock. The deal priced for C$2 million on Wednesday and will now raise C$2.75 million.
The company will now sell 6,666,666 units of one common share and one half-share warrant at C$0.15 each for C$1 million. The whole warrants are exercisable at C$0.25 for one year. The warrant strike price is a 47.06% premium to the Dec. 14 closing share price of C$0.17.
The company also will sell 10,294,117 flow-through common shares at C$0.17 each for C$1.75 million. The price per share is identical to the Dec. 14 closing share price.
Proceeds will be used for exploration work on the company's properties in the Northwest Territories or the Yukon, general corporate purposes and as a reserve for asset acquisition investigations.
Sanatana is a diamond exploration company based in Vancouver, B.C.
| Issuer: | Sanatana Diamonds Inc.
|
| Issue: | Units of one common share and one half-share warrant, flow-through common shares
|
| Amount: | C$2.75 million
|
| Pricing date: | Dec. 15
|
| Upsized: | Dec. 17
|
| Stock symbol: | TSX Venture: STA
|
| Stock price: | C$0.17 at close Dec. 14
|
| Market capitalization: | C$15.06 million
|
|
|
| Units
|
| Amount: | C$1 million
|
| Units: | 6,666,666
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.25
|
|
|
| Shares
|
| Amount: | C$1.75 million
|
| Shares: | 10,294,117
|
| Price: | C$0.17
|
| Warrants: | No
|
© 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.
