By Laura Lutz
Des Moines, April 13 - Millstream Mines Ltd. plans to raise up to C$3.15 million from a private placement of units.
The company intends to sell up to 6 million flow-through units at C$0.35 each and up to 3 million units at the same price
Each flow-through unit will consist of one flow-through share and one half-share non flow-through warrant. Each non flow-through unit will consist of one non flow-through share and one half-share non flow-through warrant.
The warrants will each be exercisable at C$0.50 for one year.
The deal will be non-brokered.
Proceeds will be used for exploration.
Millstream is a mineral development company based in Toronto.
| Issuer: | Millstream Mines Ltd.
|
| Issue: | Units of one flow-through share and one half-share non flow-through warrant; units of one non flow-through share and one half-share non flow-through warrant
|
| Amount: | C$3.15 million
|
| Agent: | Non-brokered
|
| Pricing date: | April 13
|
| Stock symbol: | TSX Venture: MLM
|
| Stock price: | C$0.40 at close April 13
|
|
|
| Flow-through units
|
| Units: | 6 million
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.50
|
|
|
| Non flow-through units
|
| Units: | 3 million
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.50
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
