By Devika Patel
Knoxville, Tenn., Sept. 2 - Blue Note Mining Inc. said it will raise C$1.2 million in a private placement of shares and units.
The company will sell 2.4 million flow-through shares at C$0.25 per share and 3 million units at C$0.20 apiece.
Each unit will consist of one share and one warrant. Each warrant will be exercisable at C$0.25 for two years.
Proceeds will be used for exploration and working capital.
Blue Note is a mineral exploration company based in Montreal.
| Issuer: | Blue Note Mining Inc.
|
| Issue: | Flow-through shares, units of one share and one warrant
|
| Amount: | C$1.2 million
|
| Pricing date: | Sept. 2
|
| Stock symbol: | TSX Venture: BNT
|
| Stock price: | C$0.20 at close Sept. 1
|
| Market capitalization: | C$58.1 million
|
|
|
| Shares
|
| Amount: | C$600,000
|
| Shares: | 2.4 million
|
| Price: | C$0.25
|
| Warrants: | No
|
|
|
| Units
|
| Amount: | C$600,000
|
| Units: | 3 million
|
| Price: | C$0.20
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
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