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Provider: Reuters Investment Profile
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$125.00
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$12.00
Provider: GlobalData
$250.00

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Bellhaven Copper and Gold Inc Announces Closing Of Non-Brokered Financing


Monday, 25 Feb 2013 07:30am EST 

Bellhaven Copper and Gold Inc announced that it has over-subscribed the $1.7 million non-brokered private placement financing announced on February 15, 2013 (the Offering). The Company has raised $1.8 million through the issuance of 15,652,173 units (the Units) at a price of $0.115 per Unit. Each Unit consists of one common share (Common Share) and one-half of one Common Share purchase warrant (Warrant) of Bellhaven. Each full Warrant entitles the holder to acquire one Common Share of the Company's stock for $0.15 for a period of 36 months following this closing date. The Warrants are also subject to acceleration terms governing their exercise. In addition to the statutory hold period expiring June 22, 2013, most of the securities issued pursuant to the Offering will be subject to an escrow period of 24 months from this date, subject to acceleration in certain circumstances. The securities will be released from escrow if, after the initial four month hold period, the Company's stock trades above $0.50 for twenty consecutive days. The IAMGOLD securities are not subject to escrow, but will be subject to the statutory hold period expiring June 22, 2013. The proceeds of the Offering will be used for exploration and general working capital purposes. 

Company Quote

0.035
-0.0050 -12.50%
21 Aug 2014