Non-brokered offering finances exploration and general working capital
By Devika Patel
Knoxville, Tenn., Oct. 24 - Bellhaven Copper & Gold Inc. said it has arranged a C$1.3 million non-brokered private placement of units.
The company will sell 26 million units of one common share and one warrant at C$0.05 per unit, with each three-year warrant exercisable at C$0.08. The strike price reflects a 33.33% premium to the Oct. 23 closing share price of C$0.06.
Proceeds will be used for exploration and maintenance activities at the company's properties in Colombia and Panama and general operating and working capital purposes.
Bellhaven is a gold and copper exploration and development company based in Panama. Its Canadian headquarters is located in Vancouver, B.C.
| Issuer: | Bellhaven Copper & Gold Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.3 million
|
| Units: | 26 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.08
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 24
|
| Stock symbol: | TSX Venture: BHV
|
| Stock price: | C$0.06 at close Oct. 23
|
| Market capitalization: | C$8.21 million
|
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