By Devika Patel
Knoxville, Tenn., March 3 - Bayswater Uranium Corp. said it plans a C$4.5 million private placement of units.
The company will sell 8,181,818 units of one common share and one half-share warrant at C$0.55 apiece. Each whole warrant will be exercisable at C$0.75 for two years.
M Partners is the agent. There is a C$675,000 greenshoe.
Proceeds will be used to acquire the Reno Creek Uranium Project and for general working capital purposes.
The company also said it plans to raise $3 million in another units deal with Pacific Road Resources Funds.
Based in Vancouver, B.C., Bayswater is a uranium exploration company.
| Issuer: | Bayswater Uranium Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$4.5 million
|
| Greenshoe: | C$675,000
|
| Units: | 8,181,818
|
| Price: | C$0.55
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
| Agent: | M Partners
|
| Pricing date: | March 3
|
| Stock symbol: | TSX Venture: BYU
|
| Stock price: | C$0.55 at close March 2
|
| Market capitalization: | C$9.57 million
|
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