Company sells 8.29 million flow-through shares to Canadian investors
By Marisa Wong
Madison, Wis., Oct. 22 - Metanor Resources Inc. said it closed a C$4.27 million non-brokered private placement of flow-through shares to Canadian investors.
Metanor sold 8,285,242 flow-through shares at a price of C$0.515 per share. The price per share represents a 28.75% premium to the Oct. 21 closing share price of C$0.40.
Proceeds of the placement will be used for exploration work on its admissible properties located in Quebec.
Metanor is a Val-d'Or, Quebec-based mineral exploration company.
| Issuer: | Metanor Resources Inc.
|
| Issue: | Flow-through shares
|
| Amount: | C$4,266,900
|
| Shares: | 8,285,242
|
| Price: | C$0.515
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Announcement date: | Oct. 22
|
| Stock symbol: | TSX Venture: MTO
|
| Stock price: | C$0.40 at close Oct. 21
|
| Market capitalization: | C$53.44 million
|
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