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Collingwood Resources completes IPO

Capital pool company Collingwood Resources Corp. has completed its initial public offering of 4.3 million common shares at 10 Canadian cents per share through its agent, Haywood Securities Inc.

Collingwood raised gross proceeds of about C$430,000 through this offering.

The company also granted options to the agents entitling the holder to purchase up to 301,000 common shares at a price of 10 cents per common share until May 10, 2020.

In addition, the agents were paid a corporate finance fee of C$10,000 plus applicable sales tax in connection with the initial public offering.

The shares were listed on the TSX Venture Exchange at market open on May 10 and halted pending completion of the initial public offering. Collingwood Resources expects its common shares to resume trading under the symbol COLL.P on May 14.