By Devika Patel
Knoxville, Tenn., June 10 - Bellhaven Copper & Gold, Inc. announced it plans to raise C$2.4 million in a private placement of units.
The company will sell 4,363,700 units at C$0.55 apiece. Each unit consists of one common share and one warrant. Each two-year warrant is exercisable at C$0.80 for the first year and at C$1.00 thereafter.
The warrants may expire sooner if Bellhaven's shares trade above C$1.60 for 20 consecutive days in the first year and above C$2.00 for 20 consecutive days in the second year.
The company may pay a 7% cash finder's fee and 8% in agent's warrants.
Proceeds will be used for property payments, a down payment on mining equipment and working capital.
Bellhaven is a mineral exploration company with headquarters in Vancouver, B.C.
| Issuer: | Bellhaven Copper & Gold, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2,400,035
|
| Units: | 4,363,700
|
| Price: | C$0.55
|
| Warrants: | One warrant per unit
|
| Warrant strike price: | C$0.80 in the first year, C$1.00 thereafter
|
| Warrant expiration: | Two years
|
| Fees: | 7% in cash, 8% in agent's warrants
|
| Pricing date: | June 10
|
| Stock symbol: | TSX Venture: BHV
|
| Stock price: | C$0.60 at close June 10
|
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