Proceeds used for working capital; units come with one-year warrants
By Devika Patel
Knoxville, Tenn., Nov. 10 - Minaean International Corp. announced it will sell 10 million units in a private placement.
The company will sell the units of one common share and one half-share warrant at C$0.10 apiece for C$1 million. Each whole one-year warrant will be exercisable at C$0.15, a 7.69% premium to the Nov. 9 closing share price of C$0.13.
Proceeds will be used for working capital.
Vancouver, B.C.-based Minaean makes rapid, efficient building systems using cold-formed steel technologies.
| Issuer: | Minaean International Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$1 million
|
| Units: | 10 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.15
|
| Pricing date: | Nov. 10
|
| Stock symbol: | TSX Venture: MIB
|
| Stock price: | C$0.12 at close Nov. 10
|
| Market capitalization: | C$4.48 million
|
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