Deal's funds will finance exploration of Peruvian Macusani Plateau
By Devika Patel
Knoxville, Tenn., Oct. 20 - Macusani Yellowcake Inc. said it has arranged a private placement of units. M Partners Inc., the lead agent, will market the units on a best efforts basis.
The company will sell 12 million units at C$0.25 apiece for C$3 million. Each unit consists of one common share and one warrant. Each two-year warrant is exercisable at C$0.35, a premium to the Oct. 19 closing share price of C$0.26.
Proceeds will be used for further exploration of the company's properties on the Macusani Plateau in Peru and for working capital and general corporate purposes.
Settlement is expected Nov. 4.
Toronto-based Macusani is a uranium exploration company.
| Issuer: | Macusani Yellowcake Inc.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | C$3 million
|
| Units: | 12 million
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.35
|
| Agent: | M Partners Inc. (lead)
|
| Pricing date: | Oct. 20
|
| Settlement date: | Nov. 4
|
| Stock symbol: | TSX Venture: YEL
|
| Stock price: | C$0.29 at close Oct. 20
|
| Market capitalization: | C$17.37 million
|
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