CANYON RESOURCES CORP: announcements explained, share price

Announcements, explained

Each one in plain English, with the numbers worked through for a shareholder.

30 May 2007capital raising announcement▼ BadMajor

This amendment restates the May 25, 2007 filing: Canyon sold 8.83 million shares with 2.21 million Series A warrants ($0.64) and 6.62 million Series B warrants ($0.704, to May 25, 2011) for $4.95 million. Placement agents got $0.2 million cash plus 330,882 Series A and 992,647 Series B warrants. A resale registration statement is due by July 9, 2007 and effective by October 22, 2007, with penalties capped at 10% of purchase price. Existing shareholders are diluted.

What it means for a shareholder

8.8m new shares at about $0.0227 to raise about $200,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.

Create a free account to see this worked out for your own holding.

Discuss in chat

5 June 2006capital raising announcement● NeutralMajor

Canyon closed a private placement on June 2, 2006, selling 5.1 million shares at $1.00 for $5.1 million gross (about $4.8 million net), plus 2.55 million Series A warrants at $1.50 for three years. Placement agents received $225,625 cash and 535,500 Series A warrants. A registration statement is due by July 2, 2006, with payments capped at 10% of the purchase price if deadlines are missed. Separately, an investor exercised 346,740 warrants from the March 2005 offering at $1.03 for about $357,142. Shareholders are diluted.

What it means for a shareholder

5.1m new shares at $1.00 to raise about $5.1m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.

Create a free account to see this worked out for your own holding.

Discuss in chat

2 Dec 2005capital raising announcement● NeutralMajor

Canyon closed a private placement on December 2, 2005, selling 3,300,004 shares at $0.76 for $2.5 million gross (about $2.3 million net), with Series A warrants (1,650,003 at $1.30, three years) and Series B warrants (825,004 at $1.08, one year). Placement agents got $121,135 cash plus 115,500 Series A, 57,750 Series B and 231,000 Series C warrants (Series C at $0.76, three years). Canyon must file a registration statement by January 1, 2006 or pay penalties. Shareholders are diluted.

What it means for a shareholder

3.3m new shares at $0.760 to raise about $2.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.

Create a free account to see this worked out for your own holding.

Discuss in chat