Deal funds exploration, working capital; PI Financial is the agent
By Devika Patel
Knoxville, Tenn., Nov. 20 - Canadian Platinum Corp. said it raised C$869,170 in a private placement of stock. The deal was conducted through agent PI Financial Corp. and on a non-brokered basis. It priced for C$3 million on Oct. 25.
The company sold 7,894,000 flow-through common shares at C$0.055 apiece and 8.7 million common shares at C$0.05 apiece on a best-efforts basis. The prices per share are 8.33% and 16.67% discounts to C$0.06, the Oct. 24 closing share price.
Proceeds will be used exploration and development activities at the Peter Lake platinum project and the Brabrant graphite project and for general working capital.
The platinum, graphite and base metals explorer is based in Calgary, Alta.
| Issuer: | Canadian Platinum Corp.
|
| Issue: | Flow-through common shares, common shares
|
| Amount: | C$869,170
|
| Warrants: | No
|
| Agent: | PI Financial Corp., non-brokered
|
| Pricing date: | Oct. 25
|
| Settlement date: | Nov. 20
|
| Stock symbol: | TSX Venture: CPC
|
| Stock price: | C$0.06 at close Oct. 24
|
| Market capitalization: | C$6.57 million
|
|
|
| Flow-through stock
|
| Amount: | C$434,170
|
| Shares: | 7,894,000
|
| Price: | C$0.055
|
|
|
| Common stock
|
| Amount: | C$435,000
|
| Shares: | 8.7 million
|
| Price: | C$0.05
|
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