By Laura Lutz
Des Moines, Aug. 4 - Moydow Mines International Inc. has completed a C$1,395,150 private placement of shares.
The company issued 7,655,143 common shares at C$0.18225 each.
President and chief executive officer of Moydow Brian Kiernan bought 3,062,057 of the shares. He now owns 7,556,024 shares of the company.
Moydow has also arranged a debt facility for US$1.7 million of which US$440,000 is being provided by Kiernan.
The proceeds will be used for the company's projects in Ghana, Sierra Leone and Angola and for general corporate purposes.
Moydow is a Toronto mineral exploration company.
| Issuer: | Moydow Mines International Inc.
|
| Issue: | Stock
|
| Amount: | C$1,395,150
|
| Shares: | 7,655,143
|
| Price: | C$0.18225
|
| Warrants: | No
|
| Settlement date: | Aug. 4
|
| Stock symbol: | Toronto: MOY
|
| Stock price: | C$0.235 at close Aug. 4
|
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