Offering to be brokered by MGI Securities, has C$3 million greenshoe
By Devika Patel
Knoxville, Tenn., Nov. 29 - Silvermex Resources Ltd. said it will conduct a private placement of units. MGI Securities Inc. is the agent for the deal, which will raise C$12 million. There is a C$3 million greenshoe.
The company will sell 19,354,839 units at C$0.62 per unit. Each unit consists of one common share and one half-share warrant. The whole warrants are exercisable at C$0.90 for three years. The strike price reflects a 21.11% premium to the Nov. 26 closing share price of C$0.71.
Proceeds will be used to advance the company's La Guitarra Mine in the Temascaltepec Mining District of Mexico and for general corporate purposes.
Silvermex is a resource exploration company based in Vancouver, B.C.
| Issuer: | Silvermex Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$12 million
|
| Greenshoe: | C$3 million
|
| Units: | 19,354,839
|
| Price: | C$0.62
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.90
|
| Agent: | MGI Securities Inc.
|
| Pricing date: | Nov. 29
|
| Stock symbol: | TSX Venture: SMR
|
| Stock price: | C$0.71 at close Nov. 26
|
| Market capitalization: | C$68.41 million
|
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