Company sells 10 million units with two-year warrants at $0.10 each
By Devika Patel
Knoxville, Tenn., Sept. 12 - BE Resources Inc. settled a C$1 million private placement of units on Sept. 6, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 10 million units of one common share and one half-share warrant at C$0.10 per unit. Each whole warrant is exercisable at C$0.20 for two years. The strike price reflects a 9.09% discount to the Sept. 2 closing share price of C$0.22.
Toronto-based BE Resources explores for beryllium, a lightweight metal with high thermal conductivity that is used in aerospace, automotive, defense, electronics, and medical applications.
| Issuer: | BE Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 10 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Settlement date: | Sept. 6
|
| Stock symbol: | TSX Venture: BER
|
| Stock price: | C$0.19 at close Sept. 6
|
| Market capitalization: | C$12.76 million
|
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