By Devika Patel
Knoxville, Tenn., Dec. 1 - Azimut Exploration Inc. said it plans a C$3 million private placement of shares and units via agent Desjardins Securities Inc. There is a 15% greenshoe.
The company will sell units at C$0.75 per unit and flow-through common shares at C$0.86 each.
Each unit will consist of one common share and one half-share warrant, with each whole warrant exercisable at C$0.95 for 18 months.
Settlement is expected Dec. 17.
Proceeds will be used for general corporate purposes, technical work and business development.
Azimut is a mineral exploration company based in Montreal.
| Issuer: | Azimut Exploration Inc.
|
| Issue: | Flow-through common shares, units of one common share and one half-share warrant
|
| Amount: | C$3 million
|
| Greenshoe: | 15%
|
| Agent: | Desjardins Securities Inc.
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| Pricing date: | Dec. 1
|
| Settlement date: | Dec. 17
|
| Stock symbol: | TSX Venture: AZM
|
| Stock price: | C$0.83 at close Nov. 30
|
| Market capitalization: | C$17.3 million
|
|
|
| Flow-through shares
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| Price: | C$0.86
|
| Warrants: | No
|
|
|
| Units
|
| Price: | C$0.75
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.95
|
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