By Devika Patel
Knoxville, Tenn., Feb. 28 - Molycor Gold Corp. arranged a non-brokered private placement of units for up to C$1 million.
The company will sell up to 5,555,555 units of one share and one warrant at C$0.18 per unit. Each warrant will be exercisable at C$0.22 for two years.
Strategic Opportunities Hedge Fund LP is the investor.
Proceeds will be used for exploration and working capital.
Molycor is a gold mining company based in White Rock, B.C.
| Issuer: | Molycor Gold Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1 million
|
| Units: | 5,555,555
|
| Price: | C$0.18
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.22
|
| Agent: | Non-brokered
|
| Investor: | Strategic Opportunities Hedge Fund LP
|
| Pricing date: | Feb. 28
|
| Stock symbol: | TSX Venture: MOR
|
| Stock price: | C$0.175 at close Feb. 27
|
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