Non-brokered deal sells 15 million shares at C$0.10, funds exploration
By Devika Patel
Knoxville, Tenn., April 9 – Oban Mining Corp. said it plans a C$1.5 million non-brokered private placement of stock.
The company will sell 5 million common shares at C$0.10 apiece and 10 million flow-through common shares at C$0.10 apiece. The prices per share are a 16.67% discount to C$0.12, the April 8 closing share price.
Settlement is expected April 23.
Proceeds will be used for exploration.
The Toronto company explores for base and precious metals.
| Issuer: | Oban Mining Corp.
|
| Issue: | Common shares, flow-through common shares
|
| Amount: | C$1.5 million
|
| Price: | C$0.10
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | April 9
|
| Settlement date: | April 23
|
| Stock symbol: | TSX Venture: OBM
|
| Stock price: | C$0.12 at close April 8
|
| Market capitalization: | C$11.49 million
|
|
|
| Common stock
|
| Amount: | C$500,000
|
| Shares: | 5 million
|
|
|
| Flow-through stock
|
| Amount: | C$1 million
|
| Shares: | 10 million
|
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