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CALGARY, Alberta – Spartan Delta Corp . (“ Spartan ” or the “ Company “) ( TSXV:SDE ) is pleased to announce that, as a result excess demand, it has increased the size of its previously announced non-brokered private placement (the “ Private Placement “) and has agreed with the syndicate of underwriters led by National Bank Financial Inc. to increase the size of its previously announced bought-deal financing (the “ Prospectus Offering “). Spartan will now issue: (i) 10,000,000 common shares (the “ Common Shares “) at a price of $4.00 per Common Share and 7,226,626 Common Shares to be issued on a “CDE” flow-through basis (the “ Flow-Through Shares “) at a price of $4.92 per Flow-Through Share, to raise aggregate gross proceeds of $75,555,000 pursuant to the Private Placement; and (ii) 11,250,000 subscription receipts (the “ Subscription Receipts “) at a price of $4.00 per Subscription Receipt to raise aggregate gross proceeds of $45,000,000 pursuant to the Prospectus Offering and, together with the Private Placement, total gross proceeds of $120,555,000. In all other respects, the terms of the Private Placement, the Prospectus Offering and use of proceeds therefrom will remain as previously disclosed in the February […]
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