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Colossus Minerals Inc. (TSX:CSI,OTCQX:COLUF) has entered into an underwriting agreement with a syndicate of underwriters, co-led by GMP Securities L.P. and Dundee Securities Ltd., together with Canaccord Genuity Corp., Clarus Securities Inc., and TD Securities Inc. to sell 44,000,000 units at $0.75 per unit, for aggregate gross proceeds of C$33,000,000. The Offering is expected to close on or about August 13, 2013.
As quoted in the press release:
Each Unit consists of one common share (“Unit Share”) and one half of a common share purchase warrant (“Warrant”). Each whole Warrant will entitle the holder thereof to purchase one common share of the Company (“Warrant Share”) at a price of $0.90 per Warrant Share at any time prior to 5:00 p.m. (Toronto time) on or before the date that is 24 months from the closing date of the Offering (“Closing Date”). The Warrants will be governed by a warrant indenture that provides for, among other things, standard anti-dilution provisions and other terms and conditions customary for such agreements.
In addition, the Company has granted the Underwriters an over-allotment option (the “Over-Allotment Option”), exercisable in whole or in part at the sole discretion of the Underwriters for a period of 30 days from and including the Closing Date, to purchase additional Unit Shares and/or Warrants, such number of additional Unit Shares and/or Warrants not to exceed 15% of the aggregate number of Unit Shares and Warrants sold on the Closing Date pursuant to the Offering.
Click here to read the Colossus Minerals Inc. (TSX:CSI,OTCQX:COLUF) press release
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