By Devika Patel
Knoxville, Tenn., May 13 - Manitou Gold Inc. said it plans a C$3 million non-brokered private placement of units. There is a C$1.05 million greenshoe.
The company will sell 4 million units of one flow-through common share and a half-share warrant at C$0.75 per unit. Each whole warrant is exercisable at C$0.75 for 18 months.
Proceeds will be used for exploration.
The gold exploration company is based in Sudbury, Ont.
| Issuer: | Manitou Gold Inc.
|
| Issue: | Units of one flow-through common share and a half-share warrant
|
| Amount: | C$3 million
|
| Greenshoe: | C$1.05 million
|
| Units: | 4 million
|
| Price: | C$0.75
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.75
|
| Agent: | Non-brokered
|
| Pricing date: | May 13
|
| Stock symbol: | TSX Venture: MTU
|
| Stock price: | C$0.42 at close May 13
|
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