Best-efforts offering finances exploration, general corporate purposes
By Devika Patel
Knoxville, Tenn., Oct. 11 - Temex Resources Corp. said it completed an C$8.35 million private placement of stock and units. The deal priced for C$7 million with a 20% greenshoe on Sept. 21.
The company sold 22.67 million units of one common share and a half-share warrant at C$0.28 per unit, with each whole warrant exercisable at C$0.40 for two years.
Temex also sold 6.25 million flow-through shares at C$0.32 each.
Of the units, 4.82 million were part of the fully exercised greenshoe.
The strike price of the warrants is a 37.93% premium to the Sept. 20 closing share price of C$0.29; the price per flow-through share represents a 10.35% premium to that price.
The offering was conducted on a best-efforts basis by a syndicate of agents led by Stifel Nicolaus Canada Inc.
The proceeds will be used for exploration and working capital purposes.
Temex is a Toronto-based exploration company with precious metal, nickel, diamond, and uranium projects in Ontario.
| Issuer: | Temex Resources Corp.
|
| Issue: | Units of one common share and a half-share warrant; flow-through shares
|
| Amount: | C$8,347,600 (including C$1,349,600 greenshoe)
|
| Agent: | Stifel Nicolaus Canada Inc. (lead)
|
| Pricing date: | Sept. 21
|
| Settlement date: | Oct. 11
|
| Stock symbol: | TSX Venture: TME
|
| Stock price: | C$0.29 at close Sept. 20
|
| Market capitalization: | C$36.93 million
|
|
|
| Units
|
| Amount: | C$6,347,600
|
| Units: | 22.67 million
|
| Price: | C$0.28
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
|
|
| Flow-through shares
|
| Amount: | C$2 million
|
| Shares: | 6.25 million
|
| Price: | C$0.32
|
| Warrants: | No
|
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