New Issue: Metanor Resources sells C$3.19 million of stock via private placement

By Devika Patel

Knoxville, Tenn., July 30 - Metanor Resources Inc. said it settled a C$3.19 million private placement of stock. The deal priced for C$2 million with a C$2 million greenshoe on July 21. Northern Securities Inc. was the agent.

The company sold 4,902,992 flow-through common shares at C$0.65 apiece. Of the shares, 1,826,069 were part of the partially exercised greenshoe.

Proceeds will be used for exploration.

Metanor is a mining exploration company based in Val d'Or, Quebec.

Issuer:	Metanor Resources Inc.
Issue:	Flow-through common shares
Amount:	C$3,186,945 (includes C$1,186,945 greenshoe)
Units:	4,902,992
Price:	C$0.65
Warrants:	No
Agent:	Northern Securities Inc.
Settlement date:	July 21
Settlement date:	July 30
Stock symbol:	TSX Venture: MTO
Stock price:	C$0.56 at close July 21
Market capitalization:	C$69.24 million

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