Company also partially exercises greenshoe for non-brokered offering
By Devika Patel
Knoxville, Tenn., Dec. 31 - Maudore Minerals Ltd. said it completed a non-brokered private placement of units. The deal priced for C$5 million with a C$3 million greenshoe on Dec. 16 and raised C$5.01 million.
The company sold 626,033 units at C$8.00 apiece. Of the units, 1,033 were part of the partially exercised greenshoe. Each unit consists of one flow-through common share and one half-share warrant.
Each whole warrant will be exercisable at C$8.00 until June 30, 2012. 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 flow-through common share and one half-share warrant
|
| Amount: | C$5,008,264 (including C$8,264 greenshoe)
|
| Units: | 626,033
|
| Price: | C$8.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | June 30, 2012
|
| Warrant strike price: | C$8.00
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 16
|
| Settlement date: | Dec. 31
|
| Stock symbol: | TSX Venture: MAO
|
| Stock price: | C$5.60 at close Dec. 15
|
| Market capitalization: | C$125.26 million
|
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