Jennings assists with deal on a reasonable commercial efforts basis
By Devika Patel
Knoxville, Tenn., Nov. 18 - Mira Resources Corp. said it will conduct a private placement of units via agent Jennings Capital Inc. There is a C$5 million greenshoe.
The company will sell units of one common share and one half-share warrant at C$0.30 apiece for C$15 million on a reasonable commercial efforts basis.
Each whole warrant will be exercisable at C$0.40 for 18 months. The strike price reflects a 29.03% premium to the Nov. 17 closing share price of C$0.31.
Settlement is expected Dec. 17.
The company also said it has formed a strategic alliance with Equinox Group Ltd., a Nigerian private conglomerate. Through this alliance, Mira will have the opportunity to advance oil and gas exploration and development projects in Western Africa which are accessed or controlled by the Equinox Group.
Mira Resources is a mineral explorer based in Vancouver, B.C.
| Issuer: | Mira Resources Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$15 million
|
| Greenshoe: | C$5 million
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.40
|
| Agent: | Jennings Capital Inc.
|
| Pricing date: | Nov. 18
|
| Settlement date: | Dec. 17
|
| Stock symbol: | TSX Venture: MRP.H
|
| Stock price: | C$0.31 at close Nov. 17
|
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