By Sheri Kasprzak
New York, Oct. 13 - Maple Minerals Corp. said it has completed its previously announced private placement for C$5 million.
The company sold 2 million units at C$2.50 each.
The units include one share and one half-share warrant. The whole warrants allow for the purchase of another share at C$3.25 each through Oct. 13, 2006.
As previously reported, Sprott Asset Management purchased 1.6 million of the units. The rest were sold on a non-brokered basis to other investors.
Proceeds will be used for exploration and general corporate purposes.
Based in Toronto, Maple is a mineral exploration company.
| Issuer: | Maple Minerals Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$5 million
|
| Units: | 2 million
|
| Price: | C$2.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Oct. 13, 2006
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| Warrant strike price: | C$3.25
|
| Investor: | Sprott Asset Management (for C$4 million)
|
| Settlement date: | Oct. 13
|
| Stock price: | C$2.70 at close Oct. 13
|
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