By Devika Patel
Knoxville, Tenn., May 9 - Minaean International Corp. said it settled the first tranche of C$2 million private placement of units, taking in C$981,349.87. The deal priced April 24.
In this tranche, the company sold 3,568,545 units. Of the units sold, 3,327,636 were sold by broker First Canadian Capital Markets Ltd.
Minaean International plans to sell a total of 7,272,727 units of one common share and a three-quarters-share warrant at C$0.275 per unit. The whole warrants are exercisable at C$0.45 for two years.
Of the units, 400,000 will sold on a non-brokered basis. The remainder will be placed by First Canadian.
The company will pay a 7.5% finder's fee.
Proceeds will be used will be used to fund the company's operations in India and North America and for working capital purposes.
Vancouver, B.C.-based Minaean International makes rapid, efficient building systems using cold formed steel technologies.
| Issuer: | Minaean International Corp.
|
| Issue: | Units of one common share and one three-quarters-share warrant
|
| Amount: | C$2 million
|
| Units: | 7,272,727
|
| Price: | C$0.275
|
| Warrants: | One three-quarters-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.45
|
| Agent: | First Canadian Capital Markets Ltd. (for 6,872,727 units); non-brokered (for 400,000 units)
|
| Fees: | 7.5%
|
| Pricing date: | April 24
|
| Settlement date: | May 9 (for C$981,349.87)
|
| Stock symbol: | TSX Venture MIB
|
| Stock price: | C$0.25 at close April 23
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
