By Sheri Kasprzak
New York, Nov. 3 - Macarthur Minerals Ltd. said it negotiated a private placement for up to C$1.2 million.
The company intends to sell, on a non-brokered basis, 4 million shares at C$0.30 each.
Proceeds will be used for working capital and for the acquisition of the Lake Giles property.
Vancouver, B.C.-based Macarthur is a mineral exploration company.
Issuer: | Macarthur Minerals Ltd.
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Issue: | Stock
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Amount: | C$1.2 million
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Shares: | 4 million
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Price: | C$0.30
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Warrants: | No
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Placement agent: | Non-brokered
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Pricing date: | Nov. 2
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Stock price: | C$0.39 at close Nov. 2
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