By Laura Lutz
Des Moines, Nov. 10 - Metanor Resources Inc. raised C$2,064,539 from the first closing of a private placement of units.
The company sold 4,129,077 units of one share and one half-share warrant to Canadian, American and European investors at C$0.50 per unit.
Each whole warrant is exercisable at C$0.55 for two years.
A second closing of at least 500,000 units, for proceeds of at least C$250,000, is expected to settle on Nov. 16.
Metanor is a mining exploration company based in Quebec.
| Issuer: | Metanor Resources inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2,064,539
|
| Units: | 4,129,077
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.55
|
| Settlement date: | Nov. 10
|
| Stock symbol: | TSX Venture: MTO
|
| Stock price: | C$0.55 at close Nov. 9
|
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