33,333,333 units of one share and one warrant sold at C$0.12 per unit
By Devika Patel
Knoxville, Tenn., June 22 – MX Gold Corp., formerly Discovery Ventures Inc., said it settled its C$4 million private placement of units. The deal priced on May 27 and was increased from C$3 million on June 3.
The company sold 33,333,333 units of one common share and one warrant at C$0.12 per unit.
Each warrant is exercisable at C$0.20 for four years. The strike price is a 42.86% premium to the May 26 closing share price of C$0.14.
Proceeds will be used to advance the WillaMAX project and for general working capital.
The gold, silver and copper mining company is based in Vancouver, B.C.
| Issuer: | MX Gold Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$4 million
|
| Units: | 33,333,333
|
| Price: | C$0.12
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Four years
|
| Warrant strike price: | C$0.20
|
| Pricing date: | May 27
|
| Upsized: | June 3
|
| Settlement date: | June 22
|
| Stock symbol: | TSX Venture: MXL, formerly DVN
|
| Stock price: | C$0.14 at close May 26
|
| Market capitalization: | C$23.12 million
|
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