Calibre arranges $2-million placement with Lassonde
Calibre arranges $2-million placement with Lassonde
2014-09-17 09:37 ET - News Release
Mr. Douglas Forster reports
CALIBRE ANNOUNCES $2,000,000 STRATEGIC FINANCING BY PIERRE LASSONDE REPRESENTING AN 11% STAKE IN THE COMPANY
Calibre Mining Corp. intends to sell, on a private placement basis, 25 million units of the company at a price of eight cents per unit to Pierre Lassonde for gross proceeds of $2-million. Following the closing of the private placement, Mr. Lassonde will hold an 11.2-per-cent equity stake in Calibre on an undiluted basis.
The private placement will consist of the company issuing 25 million units at a price of eight cents per unit. Each unit will consist of one common share and one-half common share purchase warrant. Each whole warrant will entitle the holder to acquire an additional common share for 15 cents for a period of 24 months from the closing date.
Douglas Forster, chairman of Calibre, stated: "Calibre is very pleased to welcome Pierre Lassonde as a significant new shareholder of the company. Mr. Lassonde is well known in the international mining community and North American capital markets, and he is currently chairman of Franco-Nevada Corp. Calibre is advancing the company's gold projects in Nicaragua in partnership with B2Gold Corp., Iamgold Corp. and Alder Resources Ltd. in addition to our 100-per-cent-owned Siuna district gold targets, including the Montes de Oro gold project."
The proceeds of the private placement will be used to advance the exploration and development of the company's 100-per-cent-owned projects in Nicaragua, and for general working capital purposes.
All shares issued pursuant to the private placement will be subject to a hold period expiring four months and a day following the date of issue. There are no finders' fees payable in connection with the private placement.
We seek Safe Harbor.