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Black Iron Inc amends bought deal private placement


Friday, 31 Jan 2014 08:35am EST 

Black Iron Inc:Says it has amended its agreement with Dundee Securities Ltd. as previously announced in order to comply with the Toronto Stock Exchange's anti-dilution policy in spite of indications that substitute purchasers had been identified for the full amount of the original deal.Says the Underwriter has agreed to purchase, on a bought deal private placement basis, 17,680,000 units of the company at a price of $0.17 per Unit for total gross proceeds of $3,005,600.Says each Unit shall consist of one common share of the Company and one common share purchase warrant.Says each warrant shall entitle the holder thereof to acquire one common share of the company at a price of $0.25 for a period of 36 months following the closing date of the Offering.Says The Warrants will not be listed for trading.Says the offering is expected to close on or about Feb' 20.Says the net proceeds will be used for continued advancement of the Company's Shymanivske Project and for working capital and general corporate purposes. 

Company Quote

0.1
-0.0050 -4.76%
12:55pm EDT