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Southampton announces closing of $5 million private placement

Friday, July 27th, 2007

Southampton Ventures Inc. is pleased to announce that it has closed the previously announced private placement of 2,500,000 Flow-Through Units of the Company at a price of $2.00 per Flow-Through Unit. Each Flow-Through Unit consists of one flow-through common share and one-half of one non-flow-through common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of Southampton at a price of $2.25 for 24 months from the closing date.
Although the private placement was non-brokered, Southampton agreed to pay a finder’s fee to PI Financial Corp. (“PI”) consisting of a cash fee as well as an aggregate of 120,000 broker’s warrants, each such broker’s warrant entitling PI to acquire one common share of Southampton at a price of $2.00 for a period of 12 months.
Southampton plans to use the gross proceeds from the sale of the Flow-Through Units for exploration expenditures, which will constitute Canadian exploration expenses (as defined in the Income Tax Act) and will be renounced for the 2007 taxation year.
All securities issued and issuable in connection with the private placement are subject to a hold period expiring four months and one day from the closing date. The financing remains subject to the final approval of the TSX Venture Exchange.
Southampton also announces, further to its press release dated June 20, 2007, that the price of the options granted to directors, officers and consultants of the Company, were granted at an exercise price of $1.55, not $1.60, as stated incorrectly the June 20, 2007 press release. All other terms of the options remain unchanged.

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