By Sheri Kasprzak
New York, Nov. 3 - Cash Minerals Ltd. said it priced an C$8 million private placement of flow-through shares and units.
The offering includes up to 8,888,889 flow-through shares at C$0.45 each and up to 10 million units at C$0.40 each.
The units are comprised of one share and one half-share warrant. The whole warrants are exercisable at C$0.70 each for two years.
A syndicate of placement agents led by Pacific International Securities Inc. and including Sprott Securities Inc. and PowerOne Capital Markets Ltd. has an over-allotment option for up to 2,225,000 flow-through shares and up to 2.5 million units.
The deal is expected to close Nov. 24.
Proceeds from the flow-through shares will be used for exploration on the company's coal and uranium assets in Canada. The proceeds from the units will be used for exploration and general corporate purposes.
Based in Vancouver, B.C., Cash is a uranium and coal exploration company.
| Issuer: | Cash Minerals Ltd.
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| Issue: | Flow-through shares and units of one share and one half-share warrant
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| Amount: | C$8 million (maximum)
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| Placement agents: | Pacific International Securities Inc. (lead), Sprott Securities Inc., PowerOne Capital Markets Ltd.
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| Pricing date: | Nov. 3
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| Settlement date: | Nov. 24
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| Stock price: | C$0.435 at close Nov. 2
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| Flow-through shares
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| Shares: | 8,888,889 (maximum)
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| Price: | C$0.45
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| Warrants: | No
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| Units
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| Units: | 10 million (maximum)
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| Price: | C$0.40
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.70
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