By Devika Patel
Knoxville, Tenn., Dec. 13 - Bridge Resources Corp. said it will conduct a C$55 million private placement of units.
The company will sell up to 64,706,000 units at C$0.85 each. The units are comprised of one common share and one warrant. The warrants are exercisable at C$0.95 for two years.
Blackmont Capital Inc. and Macquarie Capital Markets Canada Ltd. will be co-lead agents in North America, and Mirabaud Securities is the co-lead agent in the United Kingdom. The agents will be paid a 6% cash commission.
The deal will settle on Dec. 19.
Proceeds will be used for drilling and general corporate purposes.
Based in Calgary, Alta., Bridge Resources is a natural gas and petroleum exploration company.
| Issuer: | Bridge Resources Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$55 million
|
| Units: | 64,706,000
|
| Price: | C$0.85
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.95
|
| Agents: | Blackmont Capital Inc., Macquarie Capital Markets Canada Ltd., Mirabaud Securities (co-leads)
|
| Fees: | 6%
|
| Pricing date: | Dec. 13
|
| Settlement date: | Dec. 19
|
| Stock symbol: | TSX Venture: BUK
|
| Stock price: | C$0.95 at close Dec. 12
|
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