By Sheri Kasprzak
Atlanta, Feb. 22 - Maple Minerals Corp. announced and then upsized a private placement for up to C$7.5 million.
The company will now sell up to 10 million and at least 4 million units at C$0.75 each.
The units include one share and one half-share warrant. The whole warrants allow for an additional share at C$1 each for 18 months. If the company's closing stock price exceeds C$1.50 for 20 consecutive trading days after four months and one day following the closing date, the warrants will expire in 30 days.
The offering was first announced Feb. 21 for up to C$6 million through the sale of a maximum of 8 million units. The minimum number of units remained the same.
Based in Toronto, Maple Minerals is a minerals exploration company. It plans to use the proceeds from the private placement for general corporate purposes.
| Issuer: | Maple Minerals Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$7.5 million (maximum); C$3 million (minimum)
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| Units: | 10 million (maximum); 4 million (minimum)
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| Price: | C$0.75
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$1.00
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| Pricing date: | Feb. 21
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| Upsized: | Feb. 22
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| Stock price: | C$0.83 at close Feb. 21
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| Stock price: | C$0.93 at close Feb. 22
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