New York, Oct. 4 - Cash Minerals Ltd. completed an upsized C$14.55 million private placement of units.
The company sold 7.275 million units of one flow-through common share and one half-share transferable non flow-through warrant for C$2.00 apiece. Each full warrant will be exercisable at C$2.50 unit April 4, 2008. Cash Minerals increased the number of units from the up to 6 million for proceeds of C$12 million originally announced.
The expiry of the warrants may be accelerated to 30 days if at any time more than four months after the closing date the daily volume weighted average price of the company's shares is above C$3.25 in each of 20 consecutive days.
A syndicate of agents, led by Pacific International Securities Inc. and including Sprott Securities Inc. and Canaccord Adams, had a greenshoe for 1.2 million additional units.
The proceeds will be used for exploration.
Cash Minerals, a resource company based in Vancouver, B.C., is focused on uranium and coal prospects in the Yukon and a project to convert coal into clean-burning diesel fuel in China.
| Issuer: | Cash Minerals Ltd.
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| Issue: | Units of one flow-through share and one half-share non flow-through warrant
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| Amount: | C$14.55 million
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| Units: | 7.275 million
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| Greenshoe: | 1.2 million (exercised)
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| Price: | C$2.00
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| Warrants: | One half-share non flow-through warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$2.50
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| Agents: | Pacific International Securities Inc. (lead), Sprott Securities Inc. and Canaccord Adams
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| Pricing date: | Sept. 8
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| Settlement date: | Oct. 4
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| Stock symbol: | TSX Venture: CHX
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| Stock price: | C$1.61 at close Sept. 8, C$1.55 at close Oct. 4
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