Non-brokered offering funds acquisition of additional property assets
By Devika Patel
Knoxville, Tenn., Aug. 12 - Mongolia Growth Group Ltd. said it will conduct a C$10 million non-brokered private placement of units.
The company will sell 3,076,923 units of one common share and one half-share warrant at C$3.25 per unit on a best efforts basis.
Each whole, five-year warrant is exercisable at C$3.75. The strike price is a 15.39% premium to the Aug. 9 closing share price of C$3.25.
Settlement is expected Sept. 13.
Proceeds will be used to acquire additional property assets in Ulaanbaatar, Mongolia, and for other general working capital requirements.
The Calgary, Alta., company explores for copper and gold.
| Issuer: | Mongolia Growth Group Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$10 million
|
| Units: | 3,076,923
|
| Price: | C$3.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$3.75
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 12
|
| Settlement date: | Sept. 13
|
| Stock symbol: | TSX Venture: YAK
|
| Stock price: | C$3.25 at close Aug. 9
|
| Market capitalization: | C$111.42 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
