By Laura Lutz
Des Moines, June 4 - Mindoro Resources Ltd. settled a private placement of units for C$2,852,585, an increase from the C$2.45 million deal size announced when the placement priced on May 8.
The company sold 4,075,122 units of one share and one half-share warrant at C$0.70 per unit. Each whole warrant will be exercisable for two years, at C$1.00 in the first year and at C$1.25 in the second year.
Proceeds will be used to advance the company's projects in the Philippines.
Mindoro is a mineral exploration company based in Edmonton, Alta.
| Issuer: | Mindoro Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2,852,585
|
| Units: | 4,075,122
|
| Price: | C$0.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00 in the first year; C$1.25 in the second year
|
| Pricing date: | May 8
|
| Settlement date: | June 4
|
| Stock symbol: | TSX Venture: MIO
|
| Stock price: | C$0.80 at close May 7
|
| Stock price: | C$0.75 at close June 4
|
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