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Dalradian Resources raises C$14.8M from warrant exercises

Dalradian Resources Inc. said Aug. 2 that it raised about C$14.8 million from the exercise of share purchase warrants, increasing the company's outstanding share capital to 264,181,458 common shares.

Of the warrants exercised, 9,800,861 were issued in July 2014 and exercised at C$1.50 apiece for a total of about C$14.7 million. In aggregate, 10,333,211 of the July warrants have been exercised, and any unexercised July warrants will now be deemed expired.

The remaining proceeds were raised from 49,500 warrants issued in October 2015 and exercised at C$1.04 apiece.