GMP Securities, Clarus Securities and Mirabaud Securities were agents
By Devika Patel
Knoxville, Tenn., May 22 - Maudore Minerals Ltd. said that due to current market conditions. it will not be completing another tranche of its private placement of units. The deal priced for C$25 million with a 15% greenshoe on March 25 and raised C$15.51 million on April 12.
The company sold 17,039,835 units of one common share and one half-share warrant at C$0.91 per unit.
Each whole two-year warrant is exercisable at C$1.13, which is a 4.63% premium to the March 22 closing share price of C$1.08.
The deal was conducted by lead agent GMP Securities LP on a best-efforts basis. The syndicate of agents also included Clarus Securities Inc. and Mirabaud Securities LLP.
City Securities Ltd. has invested C$4.08 million, Monemvasia Pty Ltd. invested C$1.04 million and other investors include George Fowlie, Ingrid Martin, Anne Slivitzky, Robert Pevenstein, Raynald Vezina and Keith Harris.
Proceeds will be used to explore, develop and expand existing projects and operations, for corporate activities and other general and corporate purposes.
Maudore is a gold exploration company based in Montreal.
Issuer: | Maudore Minerals Ltd.
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Issue: | Units of one common share and a half-share warrant
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Amount: | C$15,506,250
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Units: | 17,039,835
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Price: | C$0.91
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$1.13
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Agent: | GMP Securities LP (lead), Clarus Securities Inc. and Mirabaud Securities LLP
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Investors: | City Securities Ltd. (for C$4,081,311), Monemvasia Pty Ltd. (for C$1,037,808), George Fowlie, Ingrid Martin, Anne Slivitzky, Robert Pevenstein, Raynald Vezina and Keith Harris
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Pricing date: | March 25
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Settlement date: | April 12
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Stock symbol: | TSX Venture: MAO
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Stock price: | C$1.08 at close March 22
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Market capitalization: | C$34.49 million
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