By Laura Lutz
Des Moines, Aug. 3 - Bellhaven Copper & Gold, Inc. arranged a private placement of units for up to C$15 million.
The company plans to sell up to 13,636,364 units of one share and one half-share warrant at C$1.10 per unit. Each whole warrant will be exercisable for two years, at C$1.35 in the first year and at C$1.50 in the second year.
Expiry of the warrants may be accelerated to 15 days if the company's shares trade above C$2.35 for 20 consecutive trading days.
Haywood Securities Inc. will act as agent.
Proceeds will be used for exploration, future acquisitions and working capital.
Bellhaven is a mineral exploration company with headquarters in Vancouver, B.C.
| Issuer: | Bellhaven Copper & Gold, Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$15 million
|
| Units: | 13,636,364
|
| Price: | C$1.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.35 in the first year; C$1.50 in the second year
|
| Agent: | Haywood Securities Inc.
|
| Pricing date: | Aug. 3
|
| Stock symbol: | TSX Venture: BHV
|
| Stock price: | C$1.18 at close Aug. 2
|
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