By Sheri Kasprzak
New York, Sept. 20 - Blackstone Ventures Inc. said it has arranged a private placement for up to C$5 million and at least C$2.5 million.
The offering includes up to 15,151,515 units and at least 7,575,757 units at C$0.33 each.
The units are comprised of one share and one half-share warrant. The whole warrants allow for the purchase of another share at C$0.50 each for one year.
Toll Cross Securities Inc. is the agent for the offering.
The company also plans to complete a non-brokered deal with Falconbridge Ltd. for C$350,000 along with the brokered deal.
In that offering, the company will sell 1,060,606 units under the same terms as the brokered offering.
The two deals are expected to close by Oct. 6.
Based in Vancouver, B.C., Blackstone is a mineral exploration company. The proceeds will be used for exploration on the company's nickel projects in Norway.
| Issuer: | Blackstone Ventures Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$5 million (maximum); C$2.5 million (minimum)
|
| Units: | 15,151,515 (maximum); 7,575,757 (minimum)
|
| Price: | C$0.33
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.50
|
| Placement agent: | Toll Cross Securities Inc.
|
| Pricing date: | Sept. 20
|
| Settlement date: | Oct. 6
|
| Stock price: | C$0.33 at close Sept. 19
|
|
|
© 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.
