By Devika Patel
Knoxville, Tenn., June 21 - GMV Minerals Inc. settled a C$2.94 million private placement of units via agent Max Capital Markets Ltd. The deal was announced as a C$2.5 million offering on May 10 and priced for C$3.25 million on June 15.
The company sold 19,611,732 units at C$0.15 apiece. Each unit consists of one common share and one half-share warrant. Each whole two-year warrant will be exercisable at C$0.25.
Settlement is expected June 21.
Proceeds will be used for exploration, working capital and general corporate purposes.
Based in Richmond, B.C., GMV explores for minerals.
| Issuer: | GMV Minerals Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2,941,760
|
| Units: | 19,611,732
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Agent: | Max Capital Markets Ltd.
|
| Announcement date: | May 10
|
| Pricing date: | June 15
|
| Settlement date: | June 21
|
| Stock symbol: | TSX Venture: GMV
|
| Stock price: | C$0.16 at close June 15
|
| Market capitalization: | C$2.61 million
|
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