By Laura Lutz
Des Moines, March 14 - BCM Resources Corp. increased the fraction of its C$4 million private placement that will consist of units and proportionately decreased the amount of flow-through shares.
The company now plans to sell C$1.5 million of flow-through shares at C$0.90 per share and C$2.5 million of units at C$0.80 per unit.
Each unit will consist of one non flow-through share and one half-share warrant, with each whole warrant exercisable at C$1.00 for one year.
Previously, the company planned to sell up to C$2.25 million of flow-through shares and up to C$2.75 million of units.
The deal originally priced on March 5 as an offering of up to C$2 million of flow-through shares and up to C$750,000 of units.
The company settled C$500,000 of flow-through shares on March 9.
Proceeds of the non-brokered deal will be used for exploration at the company's Shan molybdenum property near Terrace, B.C.
| Issuer: | BCM Resources Corp.
|
| Issue: | Flow-through shares and units of one non flow-through share and one half-share warrant
|
| Amount: | C$4 million
|
| Agent: | Non-brokered
|
| Pricing date: | March 5
|
| Amended: | March 12, March 14
|
| Settlement date: | March 9 (for C$500,000)
|
| Stock symbol: | TSX Venture: B
|
| Stock price: | C$0.82 at close March 2
|
| Stock price: | C$0.97 at close March 9
|
| Stock price: | C$0.92 at close March 14
|
|
|
| Flow-through shares
|
| Amount: | C$1.5 million
|
| Price: | C$0.90
|
| Warrants: | No
|
|
|
| Units
|
| Amount: | C$2.5 million
|
| Price: | C$0.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.80
|
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