Hathor Exploration Limited Announces $10Million Bought Deal Flow-Through Common Share Financing
3/8/20107:39 AM - Canada NewsWire
VANCOUVER, Mar 8, 2010 (CanadaNewsWire via COMTEX News Network) --
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HathorExploration Limited (TSXV:HAT) ("Hathor" or the "Company") is pleasedto announce that it has entered into an agreement with a syndicate ofunderwriters led by Canaccord Financial Ltd. and Salman Partners Inc.including Dundee Securities Corporation, Raymond James Ltd. and MackieResearch Capital Corporation (the "Underwriters"), to sell 4,250,000Flow-Through Shares of the Company (the "Flow-Through Shares") at aprice of CDN$2.40 to raise CDN$10,200,000, on a bought deal privateplacement basis (the "Offering"). The Company has granted theUnderwriters an over-allotment option, exercisable prior to the closingof the Offering, to purchase up to 2,000,000 additional flow-throughcommon shares at the issue price of the Offering, for additionalproceeds of up to $4,800,000.
The Underwriters will receive acash commission on the sale of the Flow-Through Shares, representing5.5% of the gross proceeds raised, including Broker Warrants ("BrokerWarrants") equal to 5.5% of the Offering. Each Broker Warrant shall beexercisable for one common share of the Company at a price of CDN$3.00at any time up to 24 months after closing.
The Company intends touse the net proceeds of the Offering to conduct exploration activitieson their Athabasca Basin uranium projects.
Closing of theOffering is anticipated to occur on or before March 18th, 2010 and issubject to receipt of applicable regulatory approvals including approvalof the TSX Venture Exchange.
The securities have not been andwill not be registered under the U.S. Securities Act of 1933, as amended(the "1933 Act"), or under any state securities laws, and may not beoffered or sold, directly or indirectly, or delivered within the UnitedStates or to, or for the account or benefit of, U.S. persons (as definedin Regulation S under the 1933 Act) absent registration or anapplicable exemption from the registration requirements. This newsrelease does not constitute an offer to sell or a solicitation to buysuch securities in the United States.
<< HathorExploration Limited Stephen G. Stanley, Director >>
