Common shares with two-year warrants finances project work
By Devika Patel
Knoxville, Tenn., March 30 - Mahdia Gold Corp. said its private placement of units is fully subscribed for C$8 million. The deal was announced for between C$3 million and C$8 million on Aug. 29 and was revised on March 20.
The company is selling 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.
Proceeds will be used for work at the Omai gold mine, work on the company's other mineral interests in Guyana and general working capital purposes.
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$8 million
|
| 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
|
| Stock symbol: | CNSX: MGD
|
| Stock price: | C$0.39 at close Aug. 29
|
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