By Sheri Kasprzak
New York, Jan. 19 - South-Malartic Exploration Inc. proposed a C$1.5 million private placement.
The non-brokered deal includes up to 7.5 million shares at C$0.20 each offered to institutional and accredited investors.
Proceeds will be used for exploration on the company's mineral properties in the Sierra Madre gold belt of Mexico and for working capital.
Based in Val-d'Or, Quebec, South-Malartic is a mineral exploration company focused on gold and other precious metals.
| Issuer: | South-Malartic Exploration Inc.
|
| Issue: | Stock
|
| Amount: | C$1.5 million
|
| Shares: | 7.5 million
|
| Price: | C$0.20
|
| Warrants: | No
|
| Placement agent: | Non-brokered
|
| Pricing date: | Jan. 19
|
| Stock symbol: | TSX Venture: MSU
|
| Stock price: | C$0.24 at close Jan. 18
|
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