Dalradian Announces Financings to Raise Over $20 Million

Dalradian Resources Inc. (TSX:DNA) has entered into an agreement with Canaccord Genuity Corp. and a syndicate to be formed for the purchase on a bought deal basis pursuant to a short form prospectus, 11,200,000 units of the company at a price of C$0.90 per unit for gross proceeds of C$10,080,000. Dalradian has also agreed to complete a concurrent non-brokered private placement of 11,200,000 unites at the offering price for an additional C$10,080,000.

According to the company’s press release:

The Units to be issued under the Offering will be offered by way of a short form prospectus in each of the provinces of Canada, except Québec.  The Units to be issued under the Concurrent Placement will be offered pursuant to the “accredited investor” exemption under National Instrument 45-106 in each of the provinces of Canada, except Québec.  The Units issued pursuant to the Concurrent Placement, and all securities issuable thereunder, will be subject to a statutory hold period under Canadian securities legislation for four months and one day following the Closing Date.  The Units to be issued under the Offering and the Concurrent Placement may also be offered in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933 (the “U.S. Securities Act”), as amended, and certain other jurisdictions in accordance with applicable securities laws.

 Click here to view the full press release.