By Marisa Wong
Milwaukee, March 29 - Catalyst Copper Corp. will raise C$3 million through a non-brokered private placement of units.
Catalyst plans to sell up to 20 million units at C$0.15 each. Each unit will consist of one common share and one half of a common share purchase warrant. Each whole warrant will entitle its holder to purchase one common share of the company for five years from the closing date at a price of C$0.30 per share.
The common shares issued under the offering and upon exercise of the warrants will be subject to a four-month hold period from the date of closing.
The company intends to use the net proceeds of the offering to pay the remaining $2 million of the bridge financing to Endeavor Financial International Ltd. and for general working capital, including funding its 2010 exploration plans.
Catalyst Copper is a Vancouver-based mine development company.
Issuer: | Catalyst Copper Corp.
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Issue: | Units of one common share and one half of a common share warrant
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Amount: | C$3 million
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Units: | Up to 20 million
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Price: | C$0.15
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Warrants: | For 10 million common shares
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Warrant expiration: | Five years
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Warrant strike price: | C$0.30
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Agent: | None
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Pricing date: | March 29
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Stock symbol: | TSX Venture: CCY
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Stock price: | C$0.155 at close March 29
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