By Devika Patel
Knoxville, Tenn., Sept. 26 - YOW Capital Corp. said it has increased a private placement of units to C$2 million. The deal priced for C$1.5 million on Sept. 5.
The company now will sell up to 10 million units at C$0.20 apiece instead of up to 7.5 million units at that price.
Each unit consists of one common share and one half-share warrant. Each full warrant is exercisable into at C$0.40 for two years.
The warrants may expire sooner if the company's shares trade above C$0.75 for a period of 30 days or more.
Investpro Securities Inc. will be the agent.
Proceeds will be used to satisfy the initial listing requirements of the exchange for YOW Capital's planned 1 for 1 share exchange with 1618254 Ontario Ltd. and to conduct drilling and exploration as well as a re-sampling of the existing core and a metallurgical analysis of a recent bulk sample. Proceeds will also be allocated to rebuild and expand the company's mining camp.
Ottawa, Ont.-based YOW Capital is a capital pool company.
| Issuer: | YOW Capital Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 10 million
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Agent: | Investpro Securities Inc.
|
| Pricing date: | Sept. 5
|
| Amended: | Sept. 26
|
| Stock symbol: | TSX Venture: YOW.P
|
| Stock price: | C$0.15 at close Sept. 5
|
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