Funds will be used to advance company's projects in Canada and Peru
By Devika Patel
Knoxville, Tenn., March 13 - Azincourt Uranium Inc. said it plans a C$2.75 million private placement of units and stock. The deal will be conducted on a best-efforts basis by a syndicate of agents led by Secutor Capital Management and has a 20% greenshoe.
The company will sell 3,703,703 units of one common share and one half-share warrant at C$0.27 per unit and 5,833,333 flow-through common shares at C$0.30 apiece.
The whole warrants are each exercisable at C$0.40 for 18 months. The strike price is a 33.33% premium to the March 12 closing share price of C$0.30. The price per share is identical to that price.
Settlement is expected March 28.
Proceeds will be used to advance the company's projects in Canada and Peru, and for general working capital purposes.
The uranium explorer is based in Vancouver, B.C.
| Issuer: | Azincourt Uranium Inc.
|
| Issue: | Units of one common share and one half-share warrant, flow-through common shares
|
| Amount: | C$2.75 million
|
| Greenshoe: | 20%
|
| Agent: | Secutor Capital Management (lead)
|
| Pricing date: | March 13
|
| Settlement date: | March 28
|
| Stock symbol: | TSX Venture: AAZ
|
| Stock price: | C$0.30 at close March 12
|
| Market capitalization: | C$12.51 million
|
|
|
| Units
|
| Amount: | C$1 million
|
| Units: | 3,703,703
|
| Price: | C$0.27
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.40
|
|
|
| Shares
|
| Amount: | C$1.75 million
|
| Shares: | 5,833,333
|
| Price: | C$0.30
|
| Warrants: | No
|
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