By Devika Patel
Knoxville, Tenn., Feb. 10 - Cream Minerals Ltd. said it priced a C$1.4 million non-brokered private placement of units on Jan. 25.
The company will sell 20 million units of one common share and one warrant at C$0.07 per unit. The two-year warrants are exercisable at C$0.10 in the first year and at C$0.15 thereafter.
Proceeds will be used for exploration and development of the company's projects in Mexico and Canada and for working capital.
Vancouver, B.C.-based Cream Minerals is mineral exploration company with programs on the Casierra Diamond properties in Sierra Leone, the Nuevo Milenio silver-gold property in Mexico, the Wine property in Manitoba and mineral property interests in British Columbia and Manitoba.
| Issuer: | Cream Minerals Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.4 million
|
| Units: | 20 million
|
| Price: | C$0.07
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10 in the first year, C$0.15 thereafter
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 25
|
| Stock symbol: | TSX Venture: CMA
|
| Stock price: | C$0.08 at close Jan. 25
|
| Market capitalization: | C$6.47 million
|
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