By Devika Patel
Knoxville, Tenn., Sept. 13 - Miranda Gold Corp. announced that it plans to raise up to C$4.68 million in a private placement of units.
The company will sell 4,460,000 units at C$1.05 apiece. Each unit consists of one common share and one non-transferable warrant. Each warrant is exercisable at C$1.50 for two years.
The warrants may expire sooner if Miranda's volume-weighted average share price is C$2.10 or greater on the TSX Venture Exchange for any 10 consecutive trading days. In that case, the warrants will expire 30 business days after Miranda notifies holders.
Global NR Holding SA has agreed to purchase 2,400,000 units, and Exploration Capital Partners 1998-B LP has agreed to purchase 1,500,000 units. Insiders and other investors will purchase the remaining 560,000 units.
The company will pay a 6% finder's fee in units.
The securities have a four-month hold period.
Proceeds will be used for exploration and property acquisition as well as working capital purposes.
Based in Vancouver, B.C., Miranda is a gold exploration company.
| Issuer: | Miranda Gold Corp.
|
| Issue: | Units of one share and one non-transferable warrant
|
| Amount: | C$4,683,000
|
| Units: | 4,460,000
|
| Price: | C$1.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.50
|
| Investors: | Global NR Holding SA (2,400,000 units), Exploration Capital Partners 1998-B LP (1,500,000 units)
|
| Fees: | 6% in units
|
| Pricing date: | Sept. 13
|
| Stock symbol: | TSX Venture: MAD
|
| Stock price: | C$1.20 at close Sept. 12
|
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