By Sheri Kasprzak
Atlanta, March 24 - Monster Copper Corp. said it has closed an upsized private placement for C$1.1 million.
The company sold 5.5 million units at C$0.20.
The units include one share and one half-share warrant. The full warrants provide for an additional share at C$0.25 each in the first year and C$0.30 each for the second year.
The company announced on Feb. 24 it planned to raise up to C$1 million.
Canaccord Capital Corp. and Pacific International Securities Inc. were the placement agents.
Based in Richmond Hill, Ont., Monster Copper is a copper exploration company. It plans to use the proceeds from the offering for exploration in Brazil as part of an agreement with Noranda Exploração Mineral Ltda. The remainder will be used for general corporate purposes.
| Issuer: | Monster Copper Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.1 million
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| Units: | 5.5 million
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| Price: | C$0.20
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.25 for first year; C$0.30 for second year
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| Placement agents: | Canaccord Capital Corp. and Pacific International Securities Inc.
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| Pricing date: | Feb. 24
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| Settlement date: | March 23
|
| Stock price: | C$0.30 at close Feb. 24
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| Stock price: | C$0.26 at close March 23
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