By Laura Lutz
Des Moines, Aug. 8 - Marifil Mines Ltd. arranged a C$1.2 million private placement of units, according to a company release.
The company will sell up to 2 million units of one common share and one half-share warrant for C$0.60 each.
Each full warrant will be exercisable at C$0.75 for one year.
Proceeds of the non-brokered deal will be used for general working capital.
Marifil is a mineral exploration company based in Spokane, Wash.
| Issuer: | Marifil Mines Ltd.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.2 million
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| Units: | 2 million
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| Price: | C$0.60
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$1.30
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| Placement agent: | Non-brokered
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| Pricing date: | Aug. 8
|
| Stock symbol: | TSX Venture: MFM
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| Stock price: | C$0.68 at close Aug. 7
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