By Sheri Kasprzak
New York, Oct. 26 - Baffinland Iron Mines Corp. settled a private placement for C$10 million, including the greenshoe.
The company sold 3,636,362 flow-through shares at C$2.75 each, including the over-allotment option for 727,272 shares exercised by a syndicate of agents led by Raymond James Ltd.
The syndicate also included Blackmont Capital Inc. and Dundee Securities Corp.
Baffinland also closed a non-brokered private placement for C$6 million, selling 2,181,818 flow-through shares at the same price as the brokered deal.
Proceeds will be used for exploration on the company's Mary River project in Nunavut.
Toronto-based Baffinland is an iron ore exploration company.
Brokered placement
| Issuer: | Baffinland Iron Mines Corp.
|
| Issue: | Flow-through shares
|
| Amount: | C$10 million
|
| Shares: | 3,636,362 (Greenshoe for 727,272 shares)
|
| Price: | C$2.75
|
| Warrants: | No
|
| Placement agents: | Raymond James Ltd. (lead), Blackmont Capital Inc. and Dundee Securities Corp.
|
| Settlement date: | Oct. 26
|
| Stock symbol: | Toronto: BIM
|
| Stock price: | C$2.20 at close Oct. 26
|
|
|
| Non-brokered placement
|
| Issuer: | Baffinland Iron Mines Corp.
|
| Issue: | Flow-through shares
|
| Amount: | C$6 million
|
| Shares: | 2,181,818
|
| Price: | C$2.75
|
| Warrants: | No
|
| Placement agents: | Non-brokered
|
| Settlement date: | Oct. 26
|
| Stock symbol: | Toronto: BIM
|
| Stock price: | C$2.20 at close Oct. 26
|
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