By Devika Patel
Knoxville, Tenn., Dec. 8 - Mantra Resources Ltd. said it plans a C$12 million private placement of stock with Highland Park SA. It also will raise C$52 million in a short form prospectus offering.
The company will sell 3 million ordinary shares at C$4.00 apiece to Highland Park.
Settlement is expected Dec. 23.
Proceeds will be used to complete feasibility studies on the Mkuju River Project and for the ongoing appraisal and development of the project.
Based in Perth, Western Australia, Mantra is a mineral exploration company.
| Issuer: | Mantra Resources Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | C$12 million
|
| Shares: | 3 million
|
| Price: | C$4.00
|
| Warrants: | No
|
| Investor: | Highland Park SA
|
| Pricing date: | Dec. 8
|
| Settlement date: | Dec. 23
|
| Stock symbol: | Toronto: MRL
|
| Stock price: | C$4.35 at close Dec. 8
|
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