By Devika Patel
Knoxville, Tenn., Dec. 21 - Bonaventure Enterprises Inc. announced it raised C$4.31 million in a private placement of units. The deal priced on Dec. 17.
The company sold 8,921,600 flow-through units at C$0.45 each for C$4,014,720. Each unit consists of one flow-through share and one warrant. Each 18-month warrant is exercisable at C$1.05 for the first year and C$2.00 thereafter.
It also sold 745,000 non-flow-through units at C$0.40 apiece, raising C$298,000. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.65 for 18 months.
Salman Partners Inc. was the agent for this deal.
Salman Partners was paid an 8% commission and received 66,660 agent's options. The terms of the agent's options are the same as the warrants included in the units, with 74,500 having the same terms as the warrants included in the non-flow-through units, and the remaining 892,160 having the same terms as the warrants included in the flow-through units.
Proceeds will be used for exploration and development and working capital.
Based in Vancouver, B.C., Bonaventure is a gold exploration company with projects in Nevada.
| Issuer: | Bonaventure Enterprises Inc.
|
| Issue: | Flow-through units of one flow-through share and one warrant, non flow-through units of one common share and one half-share warrant
|
| Amount: | C$4,312,720
|
| Agent: | Salman Partners Inc.
|
| Fees: | 8%, 66,660 agent's options
|
| Pricing date: | Dec. 17
|
| Settlement date: | Dec. 21
|
| Stock symbol: | TSX Venture: BVT
|
| Stock price: | C$0.32 at close Dec. 17
|
|
|
| Flow-through units
|
| Amount: | C$4,014,720
|
| Units: | 8,921,600
|
| Price: | C$0.45
|
| Warrants: | One warrant per unit
|
| Warrant strike price: | C$1.05 for the first year, C$2.00 thereafter
|
| Warrant expiration: | 18 months
|
|
|
| Non flow-through units
|
| Amount: | C$298,000
|
| Units: | 745,000
|
| Price: | C$0.40
|
| Warrants: | One half warrant per unit
|
| Warrant strike price: | C$0.65
|
| Warrant expiration: | 18 months
|
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