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Orbite Aluminae Inc. (TSX:ORT,OTCQX:EORBF) announced that it has fixed the terms of its previously announced “best efforts” marketed offering of units consisting of class A shares and warrants of Orbite with its syndicate of agents led by Euro Pacific Canada Inc. and including National Bank Financial Inc.
Orbite Aluminae Inc. (TSX:ORT,OTCQX:EORBF) announced that it has fixed the terms of its previously announced “best efforts” marketed offering of units consisting of class A shares and warrants of Orbite with its syndicate of agents led by Euro Pacific Canada Inc. and including National Bank Financial Inc.
As quoted in the press release:
The Corporation has reached its financing objectives as it anticipates raising minimum gross proceeds of C$35 Million and maximum gross proceeds of C$50 Million, at a price of C$0.70 per unit, each unit consisting of one class A share and one-half class A share purchase warrant, each whole warrant being exercisable at an exercise price of C$1.00 for a period of 36 months following issuance (the “Units”).
In addition, the Corporation has granted the Agents the option to purchase up to that number of additional Units as is equal to 15% of the number of Units issued under the Offering during the 30-day period immediately following the Closing Date to cover over-allotments and for market stabilization purposes (the “Over-Allotment Option”).
Click here to read the Orbite Aluminae Inc. (TSX:ORT,OTCQX:EORBF) press release
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