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Bellhaven stock rises 20% on closing oversubscribed offering

25th June 2016

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

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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.

Edited by Samantha Herbst
Creamer Media Deputy Editor

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