By Devika Patel
Knoxville, Tenn., June 26 - Celtic Minerals Ltd. said it completed the second and final tranche of a private placement of stock, raising C$1.12 million. The company raised a total of C$4.66 million.
The deal priced for C$4 million with a C$1 million greenshoe on April 28 and Celtic amended the terms on May 23; it took in C$3.54 million in the first tranche on May 30.
The company sold 6,439,454 flow-through common shares at C$0.55 per share in the first tranche and 2,034,545 shares in the second tranche for a total of 8,473,999 shares. Of the shares sold, 1,201,272 were part of the partially exercised greenshoe.
At pricing, the company had said it would sell 6,153,846 flow-through common shares at C$0.65 apiece, with a greenshoe of 1,538,461 shares.
Jennings Capital Inc. was 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$4,660,699.45 (including C$660,699.60 greenshoe)
|
| Shares: | 8,473,999
|
| 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), June 26 (for C$1,118,999.75)
|
| Stock symbol: | TSX Venture: CME
|
| Stock price: | C$0.60 at close April 25
|
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