Offering of common shares with two-year warrants finances project work
By Devika Patel
Knoxville, Tenn., March 20 - Mahdia Gold Corp. said it repriced a private placement of units. The deal was announced for between C$3 million and C$8 million on Aug. 29.
The company will now sell units of one share and a half-share warrant at C$0.25 per unit. The units were originally priced at C$0.40.
Each whole warrant will be exercisable at C$0.60 for two years. The strike price reflects a 50% premium to the Aug. 28 closing share price of C$0.40.
Settlement is expected March 29.
Proceeds will be used for work at the Omai gold mine and the company's other mineral interests in Guyana as well as for general working capital.
Mahdia is a gold exploration company based in Mississauga, Ont.
| Issuer: | Mahdia Gold Corp.
|
| Issue: | Units of one share and a half-share warrant
|
| Amount: | C$3 million (minimum), C$8 million (maximum)
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.60
|
| Pricing date: | Aug. 29
|
| Revised: | March 20
|
| Settlement date: | March 29
|
| Stock symbol: | CNSX: MGD
|
| Stock price: | C$0.39 at close Aug. 29
|
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