By Devika Patel
Knoxville, Tenn., May 18 - Mansfield Minerals Inc. said it settled a C$5.18 million private placement of units. The deal priced for C$4.5 million with a C$675,000 greenshoe on May 3.
The company sold 3.45 million units of one common share and one half-share warrant at C$1.50 apiece. Of the units, 450,000 were part of the fully exercised greenshoe. Each whole warrant will be exercisable at C$1.80 until May 18, 2012.
Paradigm Capital Inc. was the lead agent of a syndicate that included Axemen Resource Capital Ltd. and Haywood Securities Inc.
Proceeds will be used to complete the feasibility study on the Lindero Gold Project, for permitting and general working capital purposes.
Mansfield is a mining exploration company based in Vancouver, B.C.
| Issuer: | Mansfield Minerals Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$5,175,000 (including C$675,000 greenshoe)
|
| Units: | 3.45 million
|
| Price: | C$1.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | May 18, 2012
|
| Warrant strike price: | C$1.80
|
| Agents: | Paradigm Capital Inc. (lead), Axemen Resource Capital Ltd. and Haywood Securities Inc.
|
| Pricing date: | May 3
|
| Settlement date: | May 18
|
| Stock symbol: | TSX Venture: MDR
|
| Stock price: | C$1.64 at close May 3
|
| Market capitalization: | C$82.5 million
|
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