Barkerville Gold Mines
, Stock Forum
) has revealed terms of warrants attached to the $15 million gold loan facility provided by 2176423 Ontario Ltd., a company controlled by Eric Sprott.
The bonus warrants will be exercisable for 30 months at a price which is greater than either 50 cents, or a 20% premium to the volume weighted average trading price of the company’s common shares on the TSX Venture Exchange for the 5-day trading period commencing on the six trading day after the reinstatement of the company’s common shares for trading on October 9, 2013.
In connection with the loan facility, the company also issued 360,000 non-transferable finder’s warrants, the company said in a press release.
Barkerville shares fell 3.4% to 85 cents Friday, leaving the company with a market cap of $93.2 million, based on 109.7 million shares outstanding. The 52-week range is 95 cents and 43.5 cents.