By Devika Patel
Knoxville, Tenn., Dec. 10 - MetalCorp Ltd. said it has amended the terms of a C$1.5 million non-brokered private placement of units that priced on Nov. 23.
The company will now sell 8,108,108 units of one flow-through common share and one half-share warrant at C$0.185 per unit. It originally planned to sell 6 million units at C$0.25 apiece. Each whole two-year warrant will be exercisable at C$0.35 in the first year and at C$0.45 thereafter.
Proceeds will be used for exploration.
MetalCorp is a mineral exploration company based in Toronto.
| Issuer: | MetalCorp Ltd.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 8,108,108
|
| Price: | C$0.185
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.35 in the first year, C$0.45 thereafter
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 23
|
| Amended: | Dec. 10
|
| Stock symbol: | TSX Venture: MTC
|
| Stock price: | C$0.18 at close Nov. 20
|
| Market capitalization: | C$7.86 million
|
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