By Sheri Kasprzak
Atlanta, Jan. 28 - BDI Mining Corp. said it will head to the private placement market with a C$1.35 million non-brokered offering.
The company plans to sell 3 million units at C$0.45 each. The units include one share and one warrant.
The warrants allow for an additional share at C$0.60 each for two years. The warrants are automatically exercisable if the company's shares trade above C$1.20 per share on the Toronto Stock Exchange's Venture Exchange or 52p on the London AIM Exchange for 30 consecutive trading days.
Based in Toronto, BDI is a diamond and gold exploration and development company. The proceeds will be used for mining and general working capital.
| Issuer: | BDI Mining Corp.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1.35 million
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| Units: | 3 million
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| Price: | C$0.45
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.60
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| Pricing date: | Jan. 27
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| Stock price: | C$0.56 at close Jan. 27
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