By Sheri Kasprzak
New York, April 17 - Brilliant Mining Corp. said it has changed the securities offered in its previously announced C$10,000,800 PIPE to subscription receipts from units and has also lowered the price and increased the number of securities offered in the deal.
The placement now includes up to 12,501,000 subscription receipts at C$0.80 each.
The receipts are exchangeable for units of one share and one half-share warrant once Brilliant completes its acquisition of Donegal Resources Pty. Ltd.
The whole warrants associated with the units are exercisable at C$1.05 each for two years.
A syndicate of agents led by Pacific International Securities Inc. and Canaccord Adams Inc., and including Dundee Securities Corp., has a greenshoe for up to 2,500,200 additional receipts.
The deal priced March 6 as a C$10,000,800 offering of up to 11,112,000 units at C$0.90 each.
The Vancouver, B.C.-based nickel mining company will use proceeds to fund working capital, exploration and the cash portion of its acquisition of Donegal Resources Pty. Ltd.
| Issuer: | Brilliant Mining Corp.
|
| Issue: | Subscription receipts exchangeable for units of one share and one half-share warrant
|
| Amount: | C$10,000,800
|
| Subscription receipts: | 12,501,000
|
| Greenshoe: | For up to 2,500,200 receipts
|
| Price: | C$0.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | C$1.05
|
| Warrant expiration: | Two years
|
| Pricing date: | March 6
|
| Amended: | April 17
|
| Stock symbol: | TSX Venture: BMC
|
| Stock price: | C$0.93 at close March 6
|
| Stock price: | C$0.88 at close April 17
|
|
|
© 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.
