Offering's proceeds earmarked for Pidgeon Molybdenum Deposit Project
By Devika Patel
Knoxville, Tenn., Nov. 29 - MPH Ventures Corp. said on Nov. 26 that it will now sell 21 million units at C$0.05 apiece in a non-brokered private placement. The deal priced for C$1 million on Nov. 4 but will now raise C$1.05 million.
The units each consist of one common share and one warrant. Each warrant is exercisable at C$0.10 for three years. The strike price is an 81.82% premium to C$0.055, the Nov. 3 closing share price.
MPH plans to use the proceeds for its Pidgeon Molybdenum Deposit Project and for general working capital.
Vancouver, B.C.-based MPH is a precious and base metals exploration company.
| Issuer: | MPH Ventures Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.05 million
|
| Units: | 21 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 4
|
| Upsized: | Nov. 26
|
| Stock symbol: | TSX Venture: MPS
|
| Stock price: | C$0.055 at close Nov. 3
|
| Market capitalization: | C$3.68 million
|
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