By Devika Patel
Knoxville, Tenn., Jan. 11 - Maestro Ventures Ltd. said it plans a C$1.5 million private placement of units via agent Portfolio Strategies Securities Inc.
The company will sell 10 million units at C$0.15 apiece. Each unit consists of one common share and one warrant, with each two-year warrant exercisable at C$0.20 in the first year and at C$0.25 thereafter.
Proceeds will be used for exploration, potential project and area play acquisitions and general working capital purposes.
Maestro is a mining company based in Vancouver, B.C.
| Issuer: | Maestro Ventures Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.5 million
|
| Units: | 10 million
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20 in the first year, C$0.25 thereafter
|
| Agent: | Portfolio Strategies Securities Inc.
|
| Pricing date: | Jan. 11
|
| Stock symbol: | TSX Venture: MAP
|
| Stock price: | C$0.115 at close Jan. 8
|
| Market capitalization: | C$3.03 million
|
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