By Devika Patel
Knoxville, Tenn., April 23 - Sulliden Exploration Inc. said it took in C$6.1 million from a non-brokered private placement of units. The deal priced for C$5 million on March 27.
The company sold 9,386,533 units of one common share and one warrant at C$0.65 apiece. The warrants will be exercisable at C$0.80 for two years.
Proceeds will be used to continue development of the Shahuindo property in Peru, to make payments under the recently announced settlement agreements of the Shahuindo dispute and for general working capital.
Sulliden is a mineral exploration company based in Montreal. Following the settlement, it has 106,233,333 shares issued and outstanding.
| Issuer: | Sulliden Exploration Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$6,101,246.45
|
| Units: | 9,386,533
|
| Price: | C$0.65
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.80
|
| Agent: | Non-brokered
|
| Pricing date: | March 27
|
| Settlement date: | April 23
|
| Stock symbol: | Toronto: SUE
|
| Stock price: | C$0.63 at close March 26
|
| Market capitalization: | C$54.2 million
|
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