Haywood Securities is arranging a $7.55 million private placement of common stock of Revolution Resources to fund exploration activities at the Canadian mining company's Champion Hills gold project in North Carolina.
Vancouver-based Revolution Resources is issuing 12.5 million shares priced at 60.41 cents each. That's a discount of 12.6% to the price where the stock closed yesterday.
The offering represents a 27.6% stake in Revolution Resources.
Revolution Resources agreed to pay Haywood a fee of C$450,000 (U.S. $453,415) for handling the placement. The Vancouver-based investment bank will also receive one-year warrants to purchase an amount of Revolutions Resources stock equal to 6% of the number of shares that are issued in the private placement. The warrants will have an exercise price of 80 Canadian cents.
This is the first private placement for Revolution Resources, which lost C$2.1 million in the nine months ended July 31, 2010.
Metals and mining companies raised at least $1.6 billion from 138 PIPEs in 2010.
Our basic needs are: Air, Water and Food. Our Additional needs are: Aluminum, Copper, Crude, Gold, Lead, Natural Gas, Nickel, Silver, Zinc. |
Recent Articles : |
No comments:
Post a Comment