By Devika Patel
Knoxville, Tenn., Dec. 4 - Mirasol Resources Ltd. said it has arranged a C$3.5 million non-brokered private placement of units.
The company will sell 2.8 million units at C$1.25 apiece. Each unit consists of one common share and one half-share warrant. Each whole two-year warrant will be exercisable at C$1.50 in the first year and at C$1.75 thereafter.
Proceeds will be used for exploration and general working capital.
Mirasol is an exploration and development company based in Vancouver, B.C.
| Issuer: | Mirasol Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$3.5 million
|
| Units: | 2.8 million
|
| Price: | C$1.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.50 in the first year, C$1.75 thereafter
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 4
|
| Stock symbol: | TSX Venture: MRZ
|
| Stock price: | C$1.46 at close Dec. 3
|
| Market capitalization: | C$40.1 million
|
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