By Devika Patel
Knoxville, Tenn., Jan. 15 - Bridge Resources Corp. said it raised C$6.06 million in the second and final tranche of a private placement of units, for a total deal size of C$43.96 million. The offering priced Dec. 13 for up to C$55 million and the company took in C$37.9 million in the first tranche on Dec. 21.
In the first closing, Bridge sold 44,584,476 units. It sold 7,134,730 units in this tranche, for a total of 51,719,206 units. The company planned to sell up to 64,706,000 units at C$0.85 each.
The units consist 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. were co-lead agents in North America and Mirabaud Securities was the co-lead agent in the United Kingdom. The agents were paid a 6% cash commission.
Proceeds will be used for drilling and general corporate purposes.
Based in Calgary, Alta., Bridge is a natural gas and petroleum exploration company.
Issuer: | Bridge Resources Corp.
|
Issue: | Units of one common share and one warrant
|
Amount: | C$43,961,325.10
|
Units: | 51,719,206
|
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. 21 (for C$37,896,804.60), Jan. 25 (for C$6,064,520.50)
|
Stock symbol: | TSX Venture: BUK
|
Stock price: | C$0.95 at close Dec. 12
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.