Brokered offering will have a 15% greenshoe; proceeds fund exploration
By Devika Patel
Knoxville, Tenn., Sept. 10 – Oban Mining Corp. said it has arranged a C$10.93 million private placement of stock with a 15% greenshoe. Dundee Securities Ltd. is the underwriter.
The company will sell 7.05 million flow-through common shares at C$1.55 per share on a bought-deal basis. The price per share reflects a 6.16% premium to the Sept. 9 closing share price of C$1.46.
Settlement is expected Oct. 1.
Proceeds will be used for exploration.
The Toronto company explores for base and precious metals.
| Issuer: | Oban Mining Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$10,927,500
|
| Greenshoe: | 15%
|
| Shares: | 7.05 million
|
| Price: | C$1.55
|
| Warrants: | No
|
| Underwriter: | Dundee Securities Ltd.
|
| Pricing date: | Sept. 10
|
| Settlement date: | Oct. 1
|
| Stock symbol: | Toronto: OBM
|
| Stock price: | C$1.46 at close Sept. 9
|
| Market capitalization: | C$63.39 million
|
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