By Devika Patel
Knoxville, Tenn., May 19 - Macusani Yellowcake Inc. said it will take in C$2.25 million in a private placement of units.
The company will sell 8.99 million units of one common share and a half-share warrant at C$0.25 apiece. The whole warrants are exercisable at C$0.30 for two years.
Proceeds will be used to acquire the Corachapi and Kihitian mineral concessions from RAM Resources Ltd.
Toronto-based Macusani is a uranium exploration company.
| Issuer: | Macusani Yellowcake Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$2,247,500
|
| Units: | 8.99 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Pricing date: | May 19
|
| Stock symbol: | TSX Venture: YEL
|
| Stock price: | C$0.28 at close May 19
|
| Market capitalization: | C$6.8 million
|
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