Offering's proceeds slated for exploration and general working capital
By Devika Patel
Knoxville, Tenn., Nov. 10 - Cartier Resources Inc. said it has arranged a private placement of shares and units via agent Windermere Capital (Canada) Inc.
The company will sell 2.5 million flow-through common shares at C$0.50 each, generating C$1.25 million of proceeds. The price per share is a 16.28% premium to the Nov. 9 closing share price of C$0.43.
Cartier also will sell 5,263,158 units at C$0.38 apiece for C$2 million. Each unit will consist of one share and one warrant, with each two-year warrant exercisable at C$0.50. The strike price is also a16.28% premium to the Nov. 9 closing share price.
Settlement is expected Dec. 1.
Proceeds will be used for exploration and general working capital.
Cartier is a Val-d'Or, Quebec, gold explorer.
| Issuer: | Cartier Resources Inc.
|
| Issue: | Flow-through common shares, units of one share and one warrant
|
| Amount: | C$3.25 million
|
| Agent: | Windermere Capital (Canada) Inc.
|
| Pricing date: | Nov. 10
|
| Settlement date: | Dec. 1
|
| Stock symbol: | TSX Venture: ECR
|
| Stock price: | C$0.43 at close Nov. 10
|
| Market capitalization: | C$12.51 million
|
|
|
| Flow-through shares
|
| Amount: | C$1.25 million
|
| Shares: | 2.5 million
|
| Price: | C$0.50
|
| Warrants: | No
|
|
|
| Units
|
| Amount: | C$2 million
|
| Units: | 5,263,158
|
| Price: | C$0.38
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
© 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.
