By Devika Patel
Knoxville, Tenn., Nov. 27 - MBMI Resources Inc. said it will raise C$9.5 million in a non-brokered private placement of units.
The company will sell 8,260,869 units at C$1.15 apiece. Each unit will consist of one common share and one warrant, with each two-year warrant exercisable at C$1.40.
Proceeds will be used for exploration, development and general corporate purposes.
Located in Vancouver, B.C., MBMI is a mineral exploration and development company.
| Issuer: | MBMI Resources Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$9.5 million
|
| Units: | 8,260,869
|
| Price: | C$1.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.40
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 27
|
| Stock symbol: | TSX Venture: MBR
|
| Stock price: | C$1.30 at close Nov. 26
|
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