Bought-deal units offering funds exploration of Comtois Gold Project
By Devika Patel
Knoxville, Tenn., Aug. 19 - Maudore Minerals Ltd. said it settled the second and final tranche of a C$3 million private placement of units on Thursday, raising C$954,000. The deal priced on June 28 with a C$1 million greenshoe, and the company took in C$2.05 million on Aug. 5.
The company sold 348,837 units at C$8.60 apiece on a bought-deal basis. Each unit consists of one flow-through common share and one half-share warrant, with each whole warrant exercisable at C$8.60 until Feb. 18, 2013. The strike price reflects a 58.09% premium to the June 27 closing share price of C$5.44.
Maudore sold 237,923 units in the first tranche and 110,914 units in the second.
Oberon Capital Corp. will receive a finder's fee.
Proceeds will be used for exploration on the company's Comtois Gold Project and the associated land area, with an emphasis on expanding the resource in various directions.
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$3,000,138
|
| Units: | 348,837
|
| Price: | C$8.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Feb. 18, 2013
|
| Warrant strike price: | C$8.60
|
| Pricing date: | June 28
|
| Settlement date: | Aug. 5 (for C$2,046,138), Aug. 18 (for C$954,000)
|
| Stock symbol: | TSX Venture: MAO
|
| Stock price: | C$5.44 at close June 27
|
| Market capitalization: | C$114.85 million
|
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