Non-brokered deal sells units with half-share warrants at C$0.24 each
By Devika Patel
Knoxville, Tenn., Aug. 31 – Azarga Uranium Corp. said it arranged a C$2 million non-brokered private placement of units. It has commitments for C$1.5 million of the offering.
The company will sell 8,333,334 units of one common share and a half-share warrant at C$0.24 per unit.
Each whole warrant will be exercisable at C$0.35 for three years. The strike price reflects a 45.83% premium to the Aug. 30 closing share price of C$0.24.
Proceeds will be used for continuation of the permitting process at the Dewey Burdock Uranium Project, mineral and surface right payments for the company's projects and general working capital purposes.
The uranium explorer is based in Greenwood Village, Colo.
| Issuer: | Azarga Uranium Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$2 million
|
| Units: | 8,333,334
|
| Price: | C$0.24
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.35
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 31
|
| Stock symbol: | Toronto: AZZ
|
| Stock price: | C$0.24 at close Aug. 30
|
| Market capitalization: | C$17.49 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
