By Sheri Kasprzak
New York, April 17 - Mindoro Resources Ltd. has completed its previously announced private placement for C$2,883,265.
The company issued 4,118,950 units on a non-brokered basis at C$0.70 each.
The units are comprised of one share and one half-share warrant. Each whole warrant is exercisable at C$1.00 for the first year and at C$1.25 for the second year.
The deal priced on March 20 as a C$2.03 million offering of up to 2.9 million units.
Proceeds will be used for exploration on the company's projects in the Philippines.
Based in Edmonton, Alta., Mindoro is a mineral exploration company focused on copper-gold and nickel laterite.
| Issuer: | Mindoro Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2,883,265
|
| Units: | 4,118,950
|
| Price: | C$0.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00 for the first year, C$1.25 for the second year
|
| Pricing date: | March 20
|
| Settlement date: | April 17
|
| Stock symbol: | TSX Venture: MIO
|
| Stock price: | C$0.71 at close March 20
|
| Stock price: | C$0.74 at close April 17
|
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