By Laura Lutz
Washington, Feb. 22 - Monroe Minerals Inc. arranged a private placement of units for up to C$1.5 million.
The company plans to sell up to 15 million units of one share and one half-share warrant at C$0.10 per unit. Each whole warrant will be exercisable at C$0.15 for 18 months.
Proceeds will be used for assembly of a portfolio of uranium properties, diamond exploration and development, and working capital.
The deal will be non-brokered.
Monroe is a resource exploration company based in Calgary, Alta.
| Issuer: | Monroe Minerals Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 15 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 22
|
| Stock symbol: | TSX Venture: MMX
|
| Stock price: | C$0.10 at close Feb. 21
|
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