By Devika Patel
Knoxville, Tenn., June 6 - Blackstone Ventures Inc. said it plans a private placement of units for up to C$5 million.
The company will sell units of one common share and one half-share warrant at C$0.45 per unit. Each whole two-year warrant is exercisable at C$0.55.
The deal will be conducted by a syndicate of agents led by Versant Partners Inc. and including Dundee Securities Corp. and Toll Cross Securities Inc. The agents have a greenshoe for C$1 million.
Settlement is expected June 24.
Proceeds will be used to fund the company's Scandinavian nickel and VMS exploration projects and for general working capital.
Based in Vancouver, B.C., Blackstone is a mineral exploration company.
Issuer: | Blackstone Ventures Inc.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$5 million
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Greenshoe: | C$1 million
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Price: | C$0.45
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.55
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Agent: | Versant Partners Inc. (lead), Dundee Securities Corp., Toll Cross Securities Inc.
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Pricing date: | June 6
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Settlement date: | June 24
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Stock symbol: | TSX Venture: BLV
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Stock price: | C$0.455 at close June 5
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