The Conversation (0)
Colossus Minerals Inc. (TSX:CSI) announced the successful closing of its previously announced bought deal public offering of 75,000 units and the underwriters’ exercise in full of an over-allotment option to purchase an additional 11,250 Units at a price of $1,000 per Unit for total gross proceeds to Colossus of $86,250,000.
Colossus Minerals Inc. (TSX:CSI) announced the successful closing of its previously announced bought deal public offering of 75,000 units and the underwriters’ exercise in full of an over-allotment option to purchase an additional 11,250 Units at a price of $1,000 per Unit for total gross proceeds to Colossus of $86,250,000.
As quoted in the press release:
Each Unit consists of a $1,000 principal amount unsecured gold-linked note (collectively, “Notes”) and sixty common share purchase warrants (collectively, “Warrants”). The Units separated into Notes and Warrants on closing. The Notes will mature on December 31, 2016 and will bear interest, accruing and calculated and payable semi-annually in arrears on June 30 and December 31 of each year, at a rate of between 6% and 13%, dependent on the simple average of the Bloomberg Composite New York Gold Price closing price. Each Warrant entitles the holder thereof to acquire one common share of Colossus at a price of $8.50 until expiry at 5:00 p.m. on November 8, 2016.
Click here to read the Colossus Minerals Inc. (TSX:CSI) press release
Click here to see the Colossus Minerals Inc. (TSX:CSI) profile.