Kallpa Securities helps company acquire an interest in a mine project
By Devika Patel
Knoxville, Tenn., March 2 - MMEX Mining Corp. said it completed a $5.53 million private placement of units on Feb. 28. Kallpa Securities SAB was among the agents.
The company sold 27,671,440 units of one common share and one warrant at $0.20 per unit on a commercially reasonable best-efforts basis.
Each whole warrant is exercisable at $0.30 for three years. The strike price is a 50% premium to the Feb. 27 closing share price of $0.20.
Proceeds will be used to acquire a 50% interest in the company's first metallurgical mine project in Colombia and for general working capital.
MMEX, based in Dallas, is a natural resource explorer.
| Issuer: | MMEX Mining Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $5,534,288
|
| Units: | 27,671,440
|
| Price: | $0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.30
|
| Agent: | Kallpa Securities SAB
|
| Settlement date: | Feb. 28
|
| Stock symbol: | OTCBB: MMEX
|
| Stock price: | $0.20 at close Feb. 27
|
| Market capitalization: | $4.49 million
|
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