By Sheri Kasprzak
New York, March 31 - Candente Resource Corp. said it has settled a C$4,573,056 non-brokered PIPE.
The company sold 5,380,066 units at C$0.85 each.
The units are comprised of one share and one half-share warrant with each whole warrant exercisable at C$1.25 for one year.
The unit price is a 6.6% discount to the company's C$0.91 closing stock price Friday, and the warrant strike price is a 37.3% premium to the Friday closing stock price.
Sprott Asset Management Inc. and Top Gold were the lead investors for the deal.
Proceeds will be used for exploration and development of the company's mineral properties and for general corporate purposes.
Based in Vancouver, B.C., Candente is a mineral exploration company focused on a copper deposit in Peru.
| Issuer: | Candente Resource Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$4,573,056
|
| Units: | 5,380,066
|
| Price: | C$0.85
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.25
|
| Placement agent: | Non-brokered
|
| Investors: | Sprott Asset Management Inc. and Top Gold
|
| Settlement date: | March 31
|
| Stock symbol: | Toronto: DNT
|
| Stock price: | C$0.91 at close March 31
|
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