By Devika Patel
Knoxville, Tenn., Nov. 20 - Tamerlane Ventures Inc. said its planned C$1.5 million private placement of units that priced on Nov. 16 will replace another C$1.5 million deal that priced Sept. 15 and was subsequently canceled.
In the latest placement, the company is selling 8,333,333 units of one common share and one half-share warrant at C$0.18 apiece. Each whole warrant will be exercisable at C$0.25 for 18 months.
Kingsdale Capital Markets Inc. is the agent and has a 15% greenshoe.
Proceeds will be used for general corporate purposes.
Tamerlane is a mining company based in Blaine, Wash.
| Issuer: | Tamerlane Ventures Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.5 million
|
| Greenshoe: | 15%
|
| Units: | 8,333,333
|
| Price: | C$0.18
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.25
|
| Agent: | Kingsdale Capital Markets Inc.
|
| Pricing date: | Nov. 16
|
| Stock symbol: | TSX Venture: TAM
|
| Stock price: | C$0.17 at close Nov. 16
|
| Market capitalization: | C$9.39 million
|
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