Bellhaven stock rises 20% on closing oversubscribed offering
TORONTO (miningweekly.com) – Panama- and Colombia-focused explorer Bellhaven Copper & Gold’s shares listed on the TSX-V jumped 20% on Friday after the company announced that its nonbrokered private placement offering of C$500 000, which was later increased to $620 000, owing to better-than-expected investor demand, had closed.
As a result, the company said that it had issued 3.1-million units at a price of C$0.20 each.
Each unit would consist of one common share and one-half of a common share purchase warrant. Each whole warrant would entitle the holder to buy one more common share at a price of C$0.225 apiece for a period of three years from the closing of the offering.
The gold-and-copper company stated that it now had a total of 21.98-million shares issued and outstanding.
Bellhaven’s shares traded up 20% on Friday at C$0.30 each.
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