By Sheri Kasprzak
New York, Nov. 30 - Cash Minerals Ltd. said it has completed its private placement with a partly exercised greenshoe, raising C$8,882,448 in proceeds.
The company sold 12,262,500 units at C$0.40 each, including a greenshoe exercised by a syndicate of placement agents led by Pacific International Securities Inc. for 2,262,500 units, and 8,838,775 flow-through shares at C$0.45 each.
The units include one share and one half-share warrant. The whole warrants allow for another non flow-through share at C$0.70 each for two years.
The syndicate, which also included Sprott Securities Inc. and PowerOne Capital Markets Ltd., had been granted an over-allotment option for up to 2,225,000 additional flow-through shares and up to 2.5 million units. The greenshoe for the flow-through shares was not exercised.
The offering was first announced Nov. 3 as a C$8 million deal of up to 8,888,889 flow-through shares and up to 10 million units under the same terms.
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.
|
| Issue: | Flow-through shares and units of one share and one half-share warrant
|
| Amount: | C$8,882,448
|
| Placement agents: | Pacific International Securities Inc. (lead); Sprott Securities Inc. and PowerOne Capital Markets Ltd.
|
| Pricing date: | Nov. 3
|
| Settlement date: | Nov. 29
|
| Stock price: | C$0.43 at close Nov. 3
|
| Stock price: | C$0.40 at close Nov. 29
|
|
|
| Flow-through shares
|
| Shares: | 8,838,775
|
| Price: | C$0.45
|
| Warrants: | No
|
|
|
| Units
|
| Units: | 12,262,500 (includes greenshoe for 2,262,500 units)
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.70
|
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