By Sheri Kasprzak
New York, May 12 - Brilliant Mining Corp. wrapped a C$10,322,200 private placement including the partially exercised over-allotment option.
The company sold a total of 12,902,750 subscription receipts, including the greenshoe for 401,750 receipts, at C$0.80 each.
A syndicate of agents led by Pacific International Securities Inc. and Canaccord Adams Inc., and including Dundee Securities Corp., were originally granted a greenshoe for up to 2,500,200 additional receipts.
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.
The deal priced March 6 as a C$10,000,800 offering of 11,112,000 units at C$0.90 each. The units were changed to receipts on April 17. The pricing terms were then changed so that 12,501,000 receipts were offered at C$0.80 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$10,322,200
|
| Subscription receipts: | 12,902,750 (Greenshoe for 401,750 receipts)
|
| Price: | C$0.80
|
| Warrants: | One half-share warrant per unit upon exchange
|
| Warrant strike price: | C$1.05
|
| Warrant expiration: | Two years
|
| Pricing date: | March 6
|
| Amended: | April 17
|
| Settlement date: | May 12
|
| Stock symbol: | TSX Venture: BMC
|
| Stock price: | C$0.93 at close March 6
|
| Stock price: | C$0.88 at close April 17
|
| Stock price: | C$0.83 at close May 11
|
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