Company acquires processing equipment, will apply for Amex listing
By Angela McDaniels
Tacoma, Wash., May 26 - Hondo Minerals Corp. closed an oversubscribed private placement of common stock for $3.5 million.
The placement was originally set for $1 million dollars, but the board gave its approval to increase the offering to up to $4 million, according to a company news release.
The company used some of the proceeds to acquire processing equipment and plans to use the remainder to engage a geologist to begin a 43 C101 report on the Tennessee Mine property, to apply for a listing on the American Stock Exchange and to continue the resource conversion program under way at the Tennessee Mine property.
Hondo Minerals is a development-stage mining company based in Chloride, Ariz.
| Issuer: | Hondo Minerals Corp.
|
| Issue: | Common stock
|
| Amount: | $3.5 million
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Settlement date: | May 26
|
| Stock symbol: | OTCBB: HMNC
|
| Stock price: | $2.84 at close May 25
|
| Market capitalization: | $96.76 million
|
© 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.
