By Devika Patel
Knoxville, Tenn., July 17 - Bluerock Resources Ltd. announced it was upping its previously announced private placement offering to up to C$6.72 million from C$4.5 million.
The deal was announced July 3.
The company now plans to sell to up to 14 million units, increased from the previously announced figure of 9.375 million, at the previously announced price of C$0.48 per unit. Each unit will consist of one share and one half transferable share warrant. The warrants are exercisable for two years at C$0.70.
The non brokered portion of the offering has been increased to 5.9 million units from 4.375 million and the over allotment option of the brokered private placement has been increased to 3.1 million units from 1 million.
All other terms of the deal will remain the same.
As previously announced, Pacific International Securities Inc. will be the agent and will receive a commission of 7% of the gross proceeds, payable in cash or units.
There is an over-allotment option of 1 million additional units, which may be exercised at any time prior to closing.
Vancouver, B.C.-based Bluerock Resources is a uranium exploration company.
| Issuer: | Bluerock Resources Ltd.
|
| Issue: | Units of one share and one half transferable share warrant
|
| Amount: | C$6.72 million
|
| Units: | 14 million
|
| Greenshoe: | 1 million
|
| Price: | C$0.48
|
| Warrants: | One half warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.70
|
| Agent: | Pacific International Securities Inc.
|
| Original pricing date: | July 3
|
| Pricing date: | July 17
|
| Stock symbol: | TSX Venture: BRD
|
| Stock price: | C$0.57 at close on July 3
|
| Stock price: | C$0.50 at close on July 16
|
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