Non-brokered deal funds exploration, review of U.S. uranium interests
By Devika Patel
Knoxville, Tenn., Jan. 25 - Midasco Capital Corp. said it plans a non-brokered private placement of units. The deal is slated to raise C$1 million.
The company will sell 10 million units of one common share and one half-share warrant at C$0.10 per unit.
Each whole warrant will be exercisable at C$0.20 for one year. The strike price is a 122.22% premium to C$0.09, the Jan. 24 closing share price.
Proceeds will be used to review the company's uranium interests in the United States, explore possible mineral acquisitions in Latin America and for general working capital.
Midasco is a uranium and vanadium exploration company based in Vancouver, B.C.
| Issuer: | Midasco Capital Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 10 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 25
|
| Stock symbol: | TSX Venture: MGC
|
| Stock price: | C$0.09 at close Jan. 24
|
| Market capitalization: | C$3.07 million
|
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