By Devika Patel
Knoxville, Tenn., Feb. 22 - Mindoro Resources Ltd. said it will raise C$2.63 million in a private placement of units.
The company will sell 25 million units of one common share and one warrant at C$0.105 apiece. Each warrant is exercisable at C$0.15 for one year.
Proceeds will be used to advance Mindoro's nickel laterite development options and for general working capital.
Mindoro is a mineral exploration company based in Edmonton, Alta.
| Issuer: | Mindoro Resources Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2,625,000
|
| Units: | 25 million
|
| Price: | C$0.105
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.15
|
| Pricing date: | Feb. 19
|
| Stock symbol: | TSX Venture: MIO
|
| Stock price: | C$0.155 at close Feb. 18
|
| Market capitalization: | C$16.2 million
|
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