By Laura Lutz
Des Moines, March 29 - TTM Resources Inc. increased the size of the greenshoe in its previously announced C$5.1 million private placement of units.
The greenshoe will now consist of 3.8 million non flow-through units for additional proceeds of C$2.85 million. Previously, it consisted of up to C$2 million of any combination of flow-through and non flow-through units.
Without the greenshoe, the placement will include 5 million non flow-through units at C$0.75 each and 1.5 million flow-through units at C$0.90 each.
The non flow-through units will each consist of one non flow-through share and one half-share transferable warrant.
Each flow-through unit will consist of one flow-through share and one half-share transferable warrant.
Each whole warrant from either set of units will be exercisable for one non flow-through share for two years, at C$1.00 in the first year and at C$1.30 in the second year.
Proceeds will be used for exploration at the company's properties.
TTM is a resource company based in Vancouver, B.C.
| Issuer: | TTM Resources Inc.
|
| Issue: | Units of one non flow-through share and one half-share transferable warrant; units of one flow-through share and one half-share transferable warrant
|
| Amount: | C$5.1 million
|
| Agent: | Canaccord Capital Corp.
|
| Pricing date: | March 27
|
| Amended: | March 29
|
| Stock symbol: | TSX Venture: TTQ
|
| Stock price: | C$0.78 at close March 26
|
| Stock price: | C$0.79 at close March 29
|
|
|
| Non flow-through units
|
| Units: | 5 million
|
| Greenshoe: | For 3.8 million non flow-through units
|
| Price: | C$0.75
|
| Warrants: | One half-share warrant
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00 in the first year; C$1.30 in the second year
|
|
|
| Flow-through units
|
| Units: | 1.5 million
|
| Price: | C$0.90
|
| Warrants: | One half-share warrant
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00 in the first year; C$1.30 in the second year
|
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