By Sheri Kasprzak
Atlanta, March 24 - Marathon PGM Corp. said it has completed its private placement for C$2 million.
The company sold 1,346,429 units at C$1.40 each and 69,696 flow-through shares at C$1.65 each.
The units are comprised of one share and one half-share warrant. The full warrants allow for an additional share at C$1.90 each for two years.
Northern Securities Inc. was the placement agent.
Based in Toronto, Marathon is a mineral exploration and development company. It plans to use the proceeds to fund its 2005 exploration and development program.
| Issuer: | Marathon PGM Corp.
|
| Issue: | Flow-through shares and units of one share and one half-share warrant
|
| Amount: | C$2 million
|
| Pricing date: | March 4
|
| Settlement date: | March 24
|
| Stock price: | C$1.65 at close March 4
|
| Stock price: | C$1.51 at close March 24
|
|
|
| Flow-through shares
|
| Issue: | Flow-through common shares
|
| Shares: | 69,696
|
| Price: | C$1.65
|
| Warrants: | No
|
|
|
| Units
|
| Issue: | Units of one share and one half-share warrant
|
| Units: | 1,346,429
|
| Price: | C$1.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.90
|
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