By Devika Patel
Knoxville, Tenn., April 28 - Celtic Minerals Ltd. said it plans to raise C$4 million from a private placement of stock.
The company will sell 6,153,846 flow-through common shares at C$0.65 apiece. There is a greenshoe for an additional 1,538,461 shares, or C$1 million.
Jennings Capital Inc. will be the agent.
Settlement is expected May 22.
Proceeds will be used for exploration, drilling and geophysical and geological surveys.
Based in Calgary, Alta., Celtic is a mineral exploration company.
Issuer: | Celtic Minerals Ltd.
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Issue: | Flow-through common shares
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Amount: | C$4 million
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Greenshoe: | For 1,538,461 flow-through shares, or C$1 million
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Shares: | 6,153,846
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Price: | C$0.65
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Warrants: | No
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Agent: | Jennings Capital Inc.
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Pricing date: | April 28
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Settlement date: | May 22
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Stock symbol: | TSX Venture: CME
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Stock price: | C$0.60 at close April 25
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