By Devika Patel
Knoxville, Tenn., May 30 - Celtic Minerals Ltd. said it settled the first tranche of a C$4 million private placement of stock, raising C$3.54 million. The deal priced April 28 and Celtic amended the terms on May 23.
The company sold 6,439,454 flow-through common shares at C$0.55 per share in this tranche.
Celtic plans to sell up to 7,272,727 shares.
The company had planned to sell 6,153,846 flow-through common shares at C$0.65 apiece.
There is a greenshoe for an additional 1,818,182 shares, formerly 1,538,461 shares, or C$1 million.
Jennings Capital Inc. is the agent.
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.
|
| Issue: | Flow-through common shares
|
| Amount: | C$4 million
|
| Greenshoe: | For 1,818,182 flow-through shares, or C$1 million
|
| Shares: | 7,272,727
|
| Price: | C$0.55
|
| Warrants: | No
|
| Agent: | Jennings Capital Inc.
|
| Pricing date: | April 28
|
| Amended: | May 23
|
| Settlement date: | May 30 (for C$3,541,699.70)
|
| Stock symbol: | TSX Venture: CME
|
| Stock price: | C$0.60 at close April 25
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
