By Devika Patel
Knoxville, Tenn., Sept. 9 - Mega Silver Inc. said it will conduct a C$5.25 million private placement of units.
The company will sell the units at C$0.75 apiece on a best-efforts basis. Each unit consists of one flow-through share and one warrant.
The warrants are exercisable at C$1.15 for two years.
PowerOne Capital Markets Ltd. is the lead agent. There is a 15% greenshoe.
Proceeds will be used for exploration.
Based in Vancouver, B.C., Mega Silver is a silver exploration and development company.
Issuer: | Mega Silver Inc.
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Issue: | Units of one flow-through share and one warrant
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Amount: | C$5.25 million
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Greenshoe: | 15%
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Price: | C$0.75
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Warrants: | One warrant per unit
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Warrant strike price: | C$1.15
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Warrant expiration: | Two years
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Agent: | PowerOne Capital Markets Ltd. (lead)
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Pricing date: | Sept. 9
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Stock symbol: | TSX Venture: MSR
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Stock price: | C$0.69 at close Sept. 8
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Market capitalization: | C$23 million
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