Deal funds exploration at the Hope Brook and Canadian Creek projects
By Devika Patel
Knoxville, Tenn., Dec. 20 - Castillian Resources Corp. said it increased a non-brokered private placement of stock and units to C$4.5 million from C$3 million. The deal priced as a stock offering on Nov. 29 and was amended to include units on Dec. 8. It was then amended again on Dec. 16 and Dec. 20.
The company is selling flow-through common shares at C$0.11 apiece, a 10% premium to the Nov. 28 closing share price of C$0.10, and units of one common share and a half-share warrant at C$0.11 per unit.
The whole warrants are exercisable at C$0.12 for 18 months. The strike price is a 20% premium to the Nov. 28 closing price.
Settlement is expected Dec. 21.
Proceeds will be used for exploration at the Hope Brook and Canadian Creek projects and general corporate purposes.
The Toronto-based issuer explores for gold.
| Issuer: | Castillian Resources Corp.
|
| Issue: | Flow-through common shares, units of one common share and a half-share warrant
|
| Amount: | C$4.5 million
|
| Agent: | Non-brokered
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| Pricing date: | Nov. 29
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| Amended: | Dec. 8, Dec. 16, Dec. 20
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| Settlement date: | Dec. 21
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| Stock symbol: | TSX Venture: CT
|
| Stock price: | C$0.10 at close Nov. 28
|
| Market capitalization: | C$23.63 million
|
|
|
| Flow-through shares
|
| Price: | C$0.11
|
| Warrants: | No
|
|
|
| Units
|
| Price: | C$0.11
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.12
|
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