By Sheri Kasprzak
New York, Jan. 23 - Bayswater Uranium Corp. priced a C$20,017,500 private placement.
The company plans to sell up to 3.45 million non flow-through units at C$1.45 each and up to 9.1 million flow-through units at C$1.65 each.
The non flow-through units consist of one share and one half-share warrant. The whole warrants are exercisable at C$1.85 each for 18 months.
The flow-through units include one share and one half-share warrant. Each warrant is also exercisable at C$1.85 for 18 months.
Agent Pacific International Securities Inc. has a greenshoe for up to 862,500 non flow-through units and 2.275 million flow-through units.
Proceeds will be used for exploration on the company's uranium projects, including the Central Mineral Belt in Labrador, the Athabasca Basin in Saskatchewan, the Thelon Basin in the Northwest Territories and Nunavut and the Hermitage Belt in Newfoundland. The rest will be used for exploration in Niger and for working capital.
Based in Vancouver, B.C., Bayswater is a uranium exploration company.
| Issuer: | Bayswater Uranium Corp.
|
| Issue: | Flow-through and non flow-through units of one share and one half-share warrant
|
| Amount: | C$20,017,500
|
| Placement agent: | Pacific International Securities Inc.
|
| Pricing date: | Jan. 23
|
| Stock symbol: | TSX Venture: BAY
|
| Stock price: | C$1.54 at close Jan. 22
|
|
|
| Flow-through units
|
| Units: | 9.1 million
|
| Greenshoe: | 2.275 million flow-through units
|
| Price: | C$1.65
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.85
|
|
|
| Non flow-through units
|
| Units: | 3.45 million
|
| Greenshoe: | 862,500 non flow-through units
|
| Price: | C$1.45
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.85
|
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