Offering conducted as part of qualifying transaction with Siguiri Gold
By Devika Patel
Knoxville, Tenn., Aug. 24 - MCM Capital One Inc. said it plans a C$2.5 million private placement of units as part of its qualifying transaction with Siguiri Gold Mining Corp.
The company will sell 10 million units of one common share and a half-share warrant at C$0.25 per unit. Each whole warrant is exercisable at C$0.40 for two years. The strike price reflects a 122.22% premium to the Aug. 23 closing share price of C$0.18.
Proceeds will be used for the costs of the qualifying transaction, the company's business plan and general working capital expenses.
Based in Toronto, MCM Capital One is a capital pool company.
| Issuer: | MCM Capital One Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$2.5 million
|
| Units: | 10 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
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| Pricing date: | Aug. 24
|
| Stock symbol: | TSX Venture: ZGN.P
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| Stock price: | C$0.18 at close Aug. 23
|
| Market capitalization: | C$603,000
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