LONDON (Alliance News) – Dalradian Resources Inc on Thursday said that 19.2 million warrants were exercised at a price of CAD1.04 each, generating total proceeds of CAD20 million.
The warrants were exercised between September 22 and Tuesday.
Within the total amount, 371,250 warrants were exercised by directors and management, worth a total of CAD386,100, while 6.3 million shares were exercised by Osiko Gold Royalties Ltd for CAD6.5 million.
Importantly, the CAD6.5 million paid by Osiko as well as the shares acquired by directors are the same transactions as announced on Tuesday, as part of a CAD84.8 million investment.
Orion Mine Finance II LP is to invest CAD50.0 million in Dalradian with Osisko Gold Royalties Ltd making a CAD28.3 million investment.
Dalradian’s London shares closed 4.0% higher on Thursday at 81.62 pence. Canadian shares last closed at CAD1.31.
By Joshua Warner; firstname.lastname@example.org; @JoshAlliance
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