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Name - Chap Mercantile Inc (Silver Wheaton)
Website -
Click to add
Warrant Symbol -
SLW.WT
Number Trading -
87.5 million
Expiration Date -
Aug. 5, 2009
Cusip -
15941K 11 3
Warrants called to trade news:.
CHAP MERCANTILE 175-MILLION-SHARE PRIVATE
PLACEMENT
Chap Mercantile Inc (TSX-V:CPC)
Shares Issued 8,700,000
Last Close 10/20/2004 $0.69
Wednesday October 20 2004 - Private Placement
The TSX Venture Exchange has accepted for filing the company's reverse takeover (RTO) and related transactions, all as principally described in its filing statement dated Oct. 8, 2004. The RTO includes the following matter, which has been accepted by the exchange:
Brokered private placement
To finance the cash portion of the consideration payable to Wheaton and provide working capital to the company, the company has completed a brokered private placement of units, originally announced on July 14, 2004, for gross proceeds of $70-million. The financing closed on Aug. 5, 2004, at which time the subscribers to the financing were issued subscription receipts and the proceeds were placed in escrow pending the closing of the reverse takeover (RTO). On closing of the RTO, the proceeds were released to the company and the subscribers were issued units. Particulars of the financing are as follows:
No. of shares: 175 million common shares
Purchase price: 40 cents per share
Warrants: 87.5 million share purchase warrants (each warrant allows the holder to purchase one common share)
Warrant exercise price: 80 cents for a five-year period expiring Aug. 5, 2009
No. of placees: 229 placees
Insider participation: Peter Barnes, 375,000; Randy Smallwood, 250,000; Verlee Webb, 10,000; Lawrence I. Bell, 250,000; David Keough, 25,000; Russell Barwick, 250,000; Titanio Ltd. (Edward Luna), 650,000; Geir L. Liland, 25,000; John Proust, 150,000
Pro group participation: Paula Rogers, 62,500; American Farm Investment Corp., one million
Agents: GMP Securities Ltd., Canaccord Capital Corp., Fort House Inc., Research Capital Corp., Salman Partners Inc., Scotia Capital Inc., Sprott Securities Inc. and Woodstone Capital Inc.
Agent's fee: GMP Securities Ltd. received an advisory fee of $700,000
Commission: commission of 5 per cent payable as follows -- $1.75-million to GMP Securities Ltd.; $700,000 to Canaccord Capital Corp.; and $175,000 to each of Fort House Inc., Research Capital Corp., Salman Partners Inc., Scotia Capital Inc., Sprott Securities Inc. and Woodstone Capital Inc.
© 2004 Canjex Publishing Ltd.