By Sheri Kasprzak
New York, June 8 - MBMI Resources Inc. wrapped a C$2,566,000 private placement.
The company issued 2,566,000 units of one share and one half-share warrant. The whole warrants are exercisable at C$1.50 each for two years.
The non-brokered offering priced on May 9 as a C$2,591,000 offering.
Proceeds will be used for exploration and development on the company's Philippine nickel properties as well as for general corporate purposes.
Based in Vancouver, B.C., MBMI is a mineral exploration company focused primarily on nickel.
| Issuer: | MBMI Resources Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2,566,000
|
| Units: | 2,566,000
|
| Price: | C$1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.50
|
| Placement agent: | Non-brokered
|
| Pricing date: | May 9
|
| Settlement date: | June 8
|
| Stock symbol: | TSX Venture: MBR
|
| Stock price: | C$1.02 at close May 9
|
| Stock price: | C$0.55 at close June 8
|
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