By Sheri Kasprzak
New York, April 21 - Mega Uranium Ltd. said it has completed a non-brokered, oversubscribed private placement for C$31,531,600.
The company sold 3,709,600 units at C$8.50 each.
The units consist of one share and one half-share warrant with each whole warrant exercisable at C$12.00 until Oct. 21, 2007.
The expiry of the warrants will be accelerated to 30 days if the company's stock trades above C$16.00 for more than 20 consecutive trading days.
The proceeds from the deal will be used for the completion of the Hindmarsh Resources Ltd. acquisition.
The deal priced April 6 as a C$17 million offering of 2 million units and was upsized to C$29.75 million units on April 11.
Based in Toronto, Ont., Mega is a uranium exploration company focused on properties in Australia, Argentina, Mongolia and Canada.
| Issuer: | Mega Uranium Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$31,531,600
|
| Units: | 3,709,600
|
| Price: | C$8.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$12.00
|
| Placement agent: | Non-brokered
|
| Pricing date: | April 6
|
| Upsized: | April 11
|
| Settlement date: | April 21
|
| Stock symbol: | TSX Venture: MGA
|
| Stock price: | C$9.48 at close April 6
|
| Stock price: | C$9.85 at close April 11
|
| Stock price: | C$8.90 at close April 21
|
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