By Sheri Kasprzak
New York, March 3 - Magnum Uranium Corp. said it has sealed a C$4,803,660 private placement.
The company issued 3,409,200 units at C$1.05 each and 1.02 million flow-through units at C$1.20 each.
The non flow-through units include one share and one half-share warrant. Each whole warrant is exercisable at C$1.35 for the first year and at C$1.60 for the second year.
The flow-through units are comprised of one share and one half-share warrant. The whole warrants are exercisable for flow-through shares at C$1.50 for the first year and at C$1.75 for the second year.
Pacific International Securities Inc. was the lead agent for the deal.
Proceeds will be used for exploration on the company's uranium projects in the United States and Canada, as well as for working capital.
Based in Vancouver, B.C., Magnum is a uranium exploration company.
| Issuer: | Magnum Uranium Corp.
|
| Issue: | Flow-through and non flow-through units of one share and one half-share warrant
|
| Amount: | C$4,803,660
|
| Placement agent: | Pacific International Securities Inc. (lead)
|
| Settlement date: | March 3
|
| Stock symbol: | TSX Venture: MM
|
| Stock price: | C$1.00 at close March 2
|
|
|
| Flow-through units
|
| Units: | 1.02 million
|
| Price: | C$1.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.50 for the first year and C$1.75 for the second year
|
|
|
| Non flow-through units
|
| Units: | 3,409,200
|
| Price: | C$1.05
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.35 for the first year and C$1.60 for the second year
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
