By Sheri Kasprzak
New York, June 20 - Tenajon Resources Corp. wrapped its previously announced non-brokered private placement for C$3,888,265.
The company sold 7,367,500 non flow-through units at C$0.40 each and 2,091,700 flow-through shares at C$0.45 each.
The units consist of one share and one warrant with each warrant exercisable at C$0.55 for two years.
The expiry of the warrants may be accelerated to 30 days if the stock trades above C$0.80 for more than 20 consecutive trading days.
The deal priced on May 4 as a C$4,001,250 offering of up to 2,225,000 flow-through shares and up to 7.5 million units.
Proceeds will be used for exploration on the company's Ajax molybdenum property and the Summit Lake gold property, both in British Columbia.
Vancouver, B.C.-based Tenajon is a mineral exploration company.
| Issuer: | Tenajon Resources Corp.
|
| Issue: | Flow-through shares and units of one share and one warrant
|
| Amount: | C$3,888,265
|
| Placement agent: | Non-brokered
|
| Pricing date: | May 4
|
| Settlement date: | June 19
|
| Stock symbol: | TSX Venture: TJS
|
| Stock price: | C$0.42 at close May 4
|
| Stock price: | C$0.29 at close June 19
|
|
|
| Flow-through shares
|
| Shares: | 2,091,700
|
| Price: | C$0.45
|
| Warrants: | No
|
|
|
| Units
|
| Units: | 7,367,500
|
| Price: | C$0.40
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.55
|
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|
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