Funds used to acquire new projects, for exploration. working capital
By Devika Patel
Knoxville, Tenn., June 1 - Marifil Mines Ltd. said it settled a C$1.09 million private placement of units.
The company sold 3,111,395 units at C$0.35 apiece. Each unit consists of one common share and one half-share warrant, with each whole one-year warrant exercisable at C$0.45 until May 26, 2012. The strike price reflects a 32.35% premium to the May 31 closing share price of C$0.34.
Proceeds will be used for acquiring new projects, exploration work and general working capital.
Marifil is a gold, silver, copper and indium exploration company based in Vancouver, B.C.
| Issuer: | Marifil Mines Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1,088,988
|
| Units: | 3,111,395
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | May 26, 2012
|
| Warrant strike price: | C$0.45
|
| Settlement date: | June 1
|
| Stock symbol: | TSX Venture: MFM
|
| Stock price: | C$0.34 at close May 31
|
| Market capitalization: | C$16.95 million
|
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