By Sheri Kasprzak
Atlanta, June 9 - Cash Minerals Ltd. said it plans to raise C$4 million in a private placement.
The offering includes 8,571,428.57 flow-through units at C$0.35 each and 3,333,333 non flow-through units at C$0.30 each.
The flow-through units include one flow-through share and one half-share warrant. The whole warrants allow for an additional flow-through share at C$0.60 each for one year.
The non flow-through units include one share and one half-share warrant. The whole warrants allow for an additional non flow-through share at C$0.45 each for one year.
Placement agent Pacific International Securities Inc. has an over-allotment option for up to 20% of the deal size.
The offering is expected to close July 7.
Based in Toronto, Cash is a mineral exploration company. The proceeds will be used for exploration on the company's coal and uranium properties in the Yukon and for general corporate purposes.
| Issuer: | Cash Minerals Ltd.
|
| Issue: | Flow-through and non flow-through units of one share and one half-share warrant
|
| Amount: | C$4 million
|
| Greenshoe: | For 20% of total offering
|
| Placement agent: | Pacific International Securities Inc.
|
| Pricing date: | June 9
|
| Settlement date: | July 7
|
| Stock price: | C$0.30 at close June 8
|
|
|
| Flow-through units
|
| Issue: | Flow-through units of one share and one half-share warrant
|
| Units: | 8,571,428.57
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.60
|
|
|
| Non flow-through units
|
| Issue: | Non flow-through units of one share and one half-share warrant
|
| Units: | 3,333,333
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.45
|
|
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