Offering's proceeds earmarked to advance the Gunnison Copper Project
By Devika Patel
Knoxville, Tenn., June 25 - Excelsior Mining Corp. said it has arranged a C$1 million non-brokered private placement of units.
The company will sell 3,333,333 units of one common share and one half-share warrant at C$0.30 per unit.
Each full two-year warrant will be exercisable at C$0.50. The strike price reflects a 108.33% premium to the June 22 closing share price of C$0.24.
Proceeds will be used to advance the Gunnison Copper Project and for general corporate and working capital purposes.
Based in Vancouver, B.C., Excelsior is a copper exploration company.
| Issuer: | Excelsior Mining Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 3,333,333
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | June 25
|
| Stock symbol: | TSX Venture: MIN
|
| Stock price: | C$0.24 at close June 22
|
| Market capitalization: | C$11.88 million
|
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