Deal's funds will finance exploration of at Peruvian Macusani Plateau
By Devika Patel
Knoxville, Tenn., Nov. 5 - Macusani Yellowcake Inc. said it has settled a private placement of units that priced Oct. 20. M Partners Inc., the lead agent, marketed the units on a best efforts basis; due to demand, the offer was increased to C$4.5 million from C$3 million.
The company sold 18.01 million units at C$0.25 apiece. Each unit consists of one common share and one warrant. Each warrant is exercisable at C$0.35, a premium to the Oct. 19 closing share price of C$0.26, until Nov. 4, 2012.
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.
Toronto-based Macusani is a uranium exploration company.
| Issuer: | Macusani Yellowcake Inc.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | C$4,502,500
|
| Units: | 18.01 million
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Nov. 4, 2012
|
| Warrant strike price: | C$0.35
|
| Agent: | M Partners Inc. (lead)
|
| Pricing date: | Oct. 20
|
| Settlement date: | Nov. 5
|
| Stock symbol: | TSX Venture: YEL
|
| Stock price: | C$0.29 at close Oct. 20
|
| Market capitalization: | C$17.96 million
|
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