By Laura Lutz
Des Moines, Aug. 22 - Mosquito Consolidated Gold Mines Ltd. closed its private placement of units for C$8.475 million, up from the C$8.25 million size announced at pricing on July 12.
The company sold 5.65 million units of one share and one warrant at C$1.50 per unit. Each warrant is exercisable at C$2.00 for two years.
The placement included institutional participation from Sprott Asset Management, RAB Capital, Carlyle Multi Strategy Master Fund, Lionhart Fund and Forza Capital Management and brokerage participation from GMP Partners, Standard Securities Capital Corp., Jones Gable and Raymond James.
Proceeds will be used to purchase Kirkness Diamond Drilling Inc. and to fund programs, exploration and development.
Based in Vancouver, B.C., Mosquito is a gold exploration company.
| Issuer: | Mosquito Consolidated Gold Mines Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$8.475 million
|
| Units: | 5.65 million
|
| Price: | C$1.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$2.00
|
| Investors: | Sprott Asset Management, RAB Capital, Carlyle Multi Strategy Master Fund, Lionhart Fund, Forza Capital Management, GMP Partners, Standard Securities Capital Corp., Jones Gable, Raymond James
|
| Pricing date: | July 12
|
| Settlement date: | Aug. 22
|
| Stock symbol: | TSX Venture: MSQ
|
| Stock price: | C$1.10 at close July 11
|
| Stock price: | C$1.80 at close Aug. 21
|
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