Non-brokered offering of 5 million units slated to finance exploration
By Devika Patel
Knoxville, Tenn., Dec. 4 - TrinCan Capital Corp. said it will conduct a C$1 million non-brokered private placement of units.
The company will sell 5 million units of one flow-through common share and one half-share warrant at C$0.20 per unit.
Each whole warrant will be exercisable at C$0.30 until June 30, 2014. The strike price reflects a 76.47% premium to the Dec. 3 closing share price of C$0.17.
Settlement is expected on Dec. 17.
Proceeds will be used for exploration.
The oil and gas company is based in Kelowna, B.C.
| Issuer: | TrinCan Capital Corp.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 5 million
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | June 30, 2014
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 4
|
| Settlement date: | Dec. 17
|
| Stock symbol: | TSX Venture: TRN
|
| Stock price: | C$0.17 at close Dec. 3
|
| Market capitalization: | C$2.88 million
|
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