TransactionsCream Minerals Ltd. Closes $6 Million Bought Deal OfferingPublished: 12/23/2010 By Chad Aboud, Angela Chu, Jay Goldman On December 22, 2010, Cream Minerals Ltd. (the "Company") closed a bought deal private placement of 37,500,000 units priced at $0.16 per Unit. PowerOne Capital Markets Limited was sole underwriter of the offering. Each unit consists of one common share of the Company and one common share purchase warrant of Cream Minerals. Each warrant entitles the holder thereof to acquire one common share of the Company at an exercise price of $0.24 per common share until December 21, 2012, provided that if after four months and one day following the closing date, the common shares of the Company close on the TSX Venture Exchange at a price in excess of $0.60 per common share for 20 consecutive days, the Company will be able to accelerate the expiry of the Warrants to the date that is 30 days after notice of the new expiry date is provided to the holders of the Warrants. The securities issued in the offering are subject to a four month hold period in Canada expiring on April 22, 2011. Cassels Brock acted for the underwriters with a team that included Jay Goldman (Securities and Mining) and Angela Chu (Securities and Mining). |