By Sheri Kasprzak
New York, Jan. 19 - BrazAlta Resources Corp. said it has wrapped the last tranche of its C$15 million private placement.
The company issued 3,926,754 units in the most recent tranche at C$0.60 each.
The units are comprised of one share and one half-share warrant. The whole warrants are exercisable at C$0.80 each for 18 months.
The offering was placed through a syndicate of underwriters led by Westwind Partners Inc. and including Dundee Securities Corp. and Research Capital Corp.
The first tranche - of 21,073,245 units - was closed on Jan. 6.
BrazAlta plans to use the proceeds for development and exploration on the Reconcavo area in Brazil.
Based in Calgary, Alta., BrazAlta is an oil and natural gas exploration company.
| Issuer: | BrazAlta Resources Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$15 million (Greenshoe for C$5 million)
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| Units: | 25 million
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| Price: | C$0.60
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.80
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| Underwriters: | Research Capital Corp. (lead); Dundee Securities Corp.; Westwind Partners Inc.
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| Pricing date: | Oct. 12
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| Settlement date: | Jan. 19 (for final tranche)
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| Stock symbol: | TSX Venture: BRX
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| Stock price: | C$0.60 at close Oct. 12
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| Stock price: | C$0.85 at close Jan. 19
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