By Laura Lutz
Des Moines, Sept. 11 - Marifil Mines Ltd. increased the size of its previously announced private placement of units to 2,166,667 units from 2 million units, for total proceeds of C$1.3 million, up from C$1.2 million.
As previously reported, the units of one share and one half-share warrant will be sold for C$0.60 apiece.
The warrant strike price was also lowered to C$0.75 from C$1.30. Each warrant will be exercisable 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.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1.3 million
|
| Units: | 2,166,667
|
| Price: | C$0.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.75
|
| Placement agent: | Non-brokered
|
| Pricing date: | Aug. 8
|
| Amended: | Sept. 11
|
| Stock symbol: | TSX Venture: MFM
|
| Stock price: | C$0.68 at close on Aug. 7
|
| Stock price: | C$0.65 at close on Sept. 11
|
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