By Laura Lutz
Des Moines, Aug. 31 -Majescor Resources closed an oversubscribed private placement of units for C$1,562,250.
The non-brokered deal included 12,017,310 units of one share and one warrant at C$0.13 each. The warrants are exercisable at C$0.20 each for two years.
The deal priced Aug. 17 as a C$1.5 million offering of up to 11,538,462 units.
Proceeds will be used for the company's Brauna diamond project in Brazil and drilling on its Besakoa property in Madagascar as well as for working capital.
Majescor is a diamond exploration company based in Montreal.
| Issuer: | Majescor Resources
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1,562,250
|
| Units: | 12,017,310
|
| Price: | C$0.13
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Placement agent: | Non-brokered
|
| Pricing date: | Aug. 17
|
| Settlement date: | Aug. 31
|
| Stock symbol: | TSX Venture: MAJ
|
| Stock price: | C$0.18
|
| Stock price: | C$0.175
|
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