New York, May 31 - Baffinland Iron Mines Corp. said it completed its previously announced private placement at a size of C$14,529,019.
Through three closings, the company sold 7,741,935 flow-through shares at C$1.55 each and 1,806,443 common shares at C$1.40 each.
Baffinland had been planning to sell up to C$15 million with a potential C$2 million greenshoe.
The deal was brought to market by a syndicate of underwriters led by First Associates Investments Inc. and including Raymond James Ltd., Dundee Securities Corp., Haywood Securities Inc. and Wellington West Capital Markets Inc.
Based in Toronto, Baffinland is an iron exploration company. It plans to use the proceeds for exploration on its Mary River project and for general corporate purposes.
Issuer: | Baffinland Iron Mines Corp.
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Issue: | Flow-through shares and common shares
|
Amount: | C$14,529,019
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Underwriters: | First Associates Investments Inc. (lead); Raymond James Ltd.; Dundee Securities Corp.; Haywood Securities Inc.; Wellington West Capital Markets Inc.
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Announcement date: | April 13
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Pricing date: | April 25
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Settlement date: | May 31
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Stock price: | C$1.49 at close April 13
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Stock price: | C$1.50 at close April 22
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Flow-through shares
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Issue: | Flow-through common shares
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Shares: | 7,741,935
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Price: | C$1.55
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Warrants: | No
|
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Common shares
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Issue: | Common shares
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Shares: | 1,806,443
|
Price: | C$1.40
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Warrants: | No
|
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