By Sheri Kasprzak
New York, Aug. 8 - Mandorin Goldfields Inc. said it has arranged a private placement for C$1.4 million.
The non-brokered deal includes up to 28 million units at C$0.05 each.
The units are comprised of one share and one half-share warrant. The whole warrants allow for an additional share at C$0.15 each for the first year and C$0.25 each for the second year.
European investors subscribed for C$600,000 of the financing.
Vancouver, B.C.-based Mandorin is a gold, coal and diamond exploration company.
| Issuer: | Mandorin Goldfields Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.4 million (maximum)
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| Units: | 28 million (maximum)
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| Price: | C$0.05
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.15 for first year; C$0.25 for second year
|
| Pricing date: | Aug. 8
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| Stock price: | C$0.06 at close Aug. 5
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