Deal may fund acquisitions, economic studies and resource estimates
By Devika Patel
Knoxville, Tenn., July 11 – First Mining Finance Corp. said it plans a C$16 million non-brokered private placement of units.
The company will sell 20 million units of one common share and one half-share warrant at C$0.80 per unit.
Each whole warrant is exercisable at C$1.10 for three years. The strike price is a 26.44% premium to the July 8 closing share price of C$0.87.
Settlement is expected July 27.
Proceeds will be used for potential property acquisitions, economic studies and resource estimates on projects, and general working capital and corporate purposes.
The gold, silver, lead, zinc and copper explorer is based in Vancouver, B.C.
| Issuer: | First Mining Finance Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$16 million
|
| Units: | 20 million
|
| Price: | C$0.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$1.10
|
| Agent: | Non-brokered
|
| Pricing date: | July 11
|
| Settlement date: | July 27
|
| Stock symbol: | TSX Venture: FF
|
| Stock price: | C$0.87 at close July 8
|
| Market capitalization: | C$294.01 million
|
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