By Sheri Kasprzak
New York, Jan. 26 - MAG Silver Corp. priced a private placement for C$1,522,500.
The non-brokered offering includes up to 210,000 units at C$7.25 each.
The units consist of one share and one half-share warrant. Each whole warrant is exercisable at C$10.00 for one year.
The deal is scheduled to close Feb. 13.
Proceeds will be used for exploration on the company's Juancipio joint venture with Industrias Penoles SA de CV, for exploration on the company's other Mexican projects and for working capital.
Based in Vancouver, B.C., MAG Silver is a silver exploration company focused on projects in Mexico's Silver Belt.
| Issuer: | MAG Silver Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1,522,500
|
| Units: | 210,000
|
| Price: | C$7.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$10.00
|
| Placement agent: | Non-brokered
|
| Pricing date: | Jan. 26
|
| Settlement date: | Feb. 13
|
| Stock symbol: | TSX Venture: MAG
|
| Stock price: | C$7.38 at close Jan. 25
|
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