Non-brokered offering’s proceeds fund Phase IV diamond drill program
By Devika Patel
Knoxville, Tenn., April 17 – Mineral Mountain Resources Ltd. said it plans a C$1.5 million non-brokered private placement of units.
The company will sell 30 million units of one common share and one warrant at C$0.05 per unit. Each warrant will be exercisable at C$0.09 for two years. The strike price reflects a 125% premium to the April 16 closing share price of C$0.04.
Proceeds will be used for a Phase IV diamond drill program on the Holy Terror gold project in South Dakota and general working capital purposes.
Vancouver, B.C.-based Mineral Mountain explores for precious metals, including gold and silver, and base metals, including zinc, lead and copper.
| Issuer: | Mineral Mountain Resources Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.5 million
|
| Units: | 30 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.09
|
| Agent: | Non-brokered
|
| Pricing date: | April 17
|
| Stock symbol: | TSX Venture: MMV
|
| Stock price: | C$0.04 at close April 16
|
| Market capitalization: | C$8.23 million
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
