Company offers flow-through shares with warrants at C$0.48 per unit
By Devika Patel
Knoxville, Tenn., April 17 - Bayfield Ventures Corp. said it will conduct a C$2.5 million non-brokered private placement of units.
The company will sell 5,208,333 units of one flow-through common share and one warrant at C$0.48 per unit.
Each warrant will be exercisable at C$0.55 for 18 months. The strike price reflects a 22.22% premium to the April 16 closing share price of C$0.45.
Proceeds will be used for a continuing drill program on the Rainy River gold properties in Ontario.
Vancouver, B.C.-based Bayfield is a gold exploration company.
| Issuer: | Bayfield Ventures Corp.
|
| Issue: | Units of one flow-through common share and one warrant
|
| Amount: | C$2.5 million
|
| Units: | 5,208,333
|
| Price: | C$0.48
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.55
|
| Agent: | Non-brokered
|
| Pricing date: | April 17
|
| Stock symbol: | TSX Venture: BYV
|
| Stock price: | C$0.45 at close April 16
|
| Market capitalization: | C$28.88 million
|
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