Deal sells at A$0.115 per CDI in Australia, C$0.12 per share in Canada
By Devika Patel
Knoxville, Tenn., Jan. 25 - Mindoro Resources Ltd. said it will raise C$1.28 million in the final tranche of a private placement of Chess Depositary Interests and common stock, which is now expected to raise C$2.7 million. The deal priced for C$4 million Nov. 21 and raised C$1.2 million on Nov. 30.
The company is selling CDIs at A$0.115 apiece in Australia and shares at C$0.12 each in Canada.
The price per CDI is a 23.33% discount to the company's Nov. 18 closing price in Australia, A$0.15. The price per common share is a 20% discount to its Nov. 18 closing price on the TSX Venture exchange, C$0.15.
DJ Carmichael Pty Ltd. in Perth, Australia, and Fox-Davies Capital Ltd. in London are the co-lead managers. Acorn Capital - Microcap Investments, International Finance Corp. and Lion Selection Group are among the investors.
Proceeds will be used to advance the Lobo and Archangel gold projects and for ongoing working capital requirements.
Based in Melbourne, Australia, Mindoro is a nickel, copper and gold exploration company.
| Issuer: | Mindoro Resources Ltd.
|
| Issue: | Chess Depositary Interests, common stock
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| Amount: | C$2.7 million
|
| Warrants: | No
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| Investors: | Acorn Capital - Microcap Investments, International Finance Corp. and Lion Selection Group
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| Pricing date: | Nov. 21
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| Settlement dates: | Nov. 30 (for C$1.2 million), Jan. 25 (for C$1.28 million)
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| Stock symbol: | TSX Venture: MIO, Australia: MDO
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| Stock price: | C$0.15, A$0.15 at close Nov. 21
|
| Market capitalization: | C$27.49 million
|
|
|
| CDIs
|
| Price: | A$0.115
|
|
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| Shares
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| Price: | C$0.12
|
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