By Devika Patel
Knoxville, Tenn., June 17 - Manicouagan Minerals Inc. said it plans to conduct a C$1.5 million non-brokered private placement of stock.
The company will sell 7.5 million flow-through common shares at C$0.20 apiece in two tranches.
Settlement of the first tranche is expected on June 27 and the final tranche by July 16.
Proceeds will be used for exploration.
Toronto-based Manicouagan is a mineral exploration company.
| Issuer: | Manicouagan Minerals Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$1.5 million
|
| Shares: | 7.5 million
|
| Price: | C$0.20
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | June 17
|
| Settlement date: | June 27 (first tranche), July 16 (final tranche)
|
| Stock symbol: | TSX Venture: MAM
|
| Stock price: | C$0.175 at close June 16
|
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