By Sheri Kasprzak
New York, Dec. 6 - Marauder Resources East Coast Inc. said it wrapped its previously announced private placement for C$6,083,224.
The company issued 4,289,760 units at C$1.15 each and 1 million flow-through shares at C$1.15 each.
The units are composed of one share and one half-share warrant. The whole warrants are exercisable at C$1.50 each for one year.
The company closed a portion of the deal on Nov. 24 for C$3,795,000, selling 1 million flow-through shares and 2.3 million units.
The latest closing brings to C$10,058,224 the proceeds raised from the deal.
The offering was first announced Nov. 28 as a C$11.15 million offering of up to 1 million flow-through shares and up to 8,695,653 units under the same terms.
Proceeds will be used for exploration on a natural gas well. The rest will be used for three-dimensional seismic studies on the company's Nova Scotia mineral leases and general corporate purposes.
Based in Calgary, Alta., Marauder is an oil and natural gas exploration company.
| Issuer: | Marauder Resources East Coast Inc.
|
| Issue: | Flow-through shares and units of one share and one half-share warrant
|
| Amount: | C$6,083,224
|
| Placement agent: | Non-brokered
|
| Announcement date: | Nov. 24
|
| Settlement date: | Dec. 6
|
| Stock price: | C$1.35 at close Nov. 24
|
| Stock price: | C$1.29 at close Dec. 6
|
|
|
| Flow-through shares
|
| Shares: | 1 million
|
| Price: | C$1.15
|
| Warrants: | No
|
|
|
| Units
|
| Units: | 4,289,760
|
| Price: | C$1.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.50
|
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