Non-brokered offering also has a C$3 million greenshoe, company says
By Devika Patel
Knoxville, Tenn., Dec. 16 - Maudore Minerals Ltd. said it will conduct a non-brokered private placement of units. There is a C$3 million greenshoe for the C$5 million deal.
The company will sell 625,000 units at C$8.00 apiece. Each unit consists of one common share and one half-share warrant.
Each whole warrant will be exercisable at C$8.00 for 18 months. The strike price reflects a 42.86% premium to the Dec. 15 closing share price of C$5.60.
Proceeds will be used for exploration on Maudore's Comtois Gold Project and the associated land area.
Maudore is a gold exploration company based in Montreal.
| Issuer: | Maudore Minerals Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$5 million
|
| Greenshoe: | C$3 million
|
| Units: | 625,000
|
| Price: | C$8.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$8.00
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 16
|
| Stock symbol: | TSX Venture: MAO
|
| Stock price: | C$5.60 at close Dec. 15
|
| Market capitalization: | C$125.26 million
|
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