New York, Oct. 18 - Terrane Metals Corp. said it priced a C$10.05 million private placement of units.
The Vancouver, B.C., mining company agreed to sell 13.4 million units at C$0.75 apiece. Each unit includes one common share and half a share purchase warrant exercisable at C$1.00 for the first 12 months and C$1.25 for the second 12 months.
Haywood Securities Inc. led a syndicate of dealers.
Proceeds will be used for exploration and development of Terrane's properties and for working capital.
Terrane is focused on the Mount Milligan gold-copper deposit and the Berg copper-molydenum-silver project in British Columbia.
| Issuer: | Terrane Metals Corp.
|
| Issue: | Units of stock and 0.5 warrants
|
| Amount: | C$10.05 million
|
| Units: | 13.4 million
|
| Price: | C$0.75
|
| Warrants: | 0.5 per unit
|
| Warrant strike price: | C$1.00 for the first 12 months, C$1.25 for the second 12 months
|
| Warrant term: | 2 years
|
| Agent: | Haywood Securities Inc. (lead)
|
| Pricing date: | Oct. 18
|
| Settlement: | Oct. 30
|
| Stock symbol: | TSX Venture: TRX
|
| Stock price: | C$0.75 at close Oct. 18
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
