Shares sold at C$0.065 each to finance joint venture placer operation
By Devika Patel
Knoxville, Tenn., Jan. 16 - Mahdia Gold Corp. said it has arranged a C$1 million private placement of stock on Wednesday.
The company will sell 14 million common shares at C$0.065 apiece. The price per share is identical to the Jan. 14 closing share price.
Investors include Michael Wekerle, Andre Douchane, Fred Mason and Ray Irwin.
Proceeds will be used to ensure that the company is well financed during the start-up phase of the joint venture placer operation.
Mahdia is a gold exploration company based in Mississauga, Ont.
| Issuer: | Mahdia Gold Corp.
|
| Issue: | Common stock
|
| Amount: | C$1 million
|
| Price: | C$0.065
|
| Warrants: | No
|
| Investors: | Michael Wekerle, Andre Douchane, Fred Mason and Ray Irwin
|
| Pricing date: | Jan. 15
|
| Stock symbol: | CNSX: MGD
|
| Stock price: | C$0.065 at close Jan. 14
|
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