By Devika Patel
Knoxville, Tenn., May 13 - Mediterranean Resources Ltd. said it settled a C$1.13 million non-brokered private placement of stock.
The company sold 14,125,000 shares at C$0.08 each.
Proceeds will be used for advancement of the company's Tac, Corak and Celtik projects within the Yusufeli property in Turkey, and for general working capital purposes.
Mediterranean is a gold exploration company based in Vancouver, B.C.
| Issuer: | Mediterranean Resources Ltd.
|
| Issue: | Stock
|
| Amount: | C$1.13 million
|
| Shares: | 14,125,000
|
| Price: | C$0.08
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Settlement date: | May 13
|
| Stock symbol: | TSX Venture: MNR
|
| Stock price: | C$0.105 at close May 12
|
| Market capitalization: | C$9.59 million
|
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