Non-brokered deal's proceeds help explore Northcore, Nyimba projects
By Devika Patel
Knoxville, Tenn., Sept. 27 - Mukuba Resources Ltd. said it completed an initial tranche of a C$3 million non-brokered private placement of stock, raising C$746,200. The deal priced Sept. 7.
The company is selling 20 million common shares at C$0.15 apiece, a 6.25% discount to the Sept. 6 closing share price of C$0.16. It sold 4,974,666 shares in the first tranche.
Proceeds will be used for exploration of the company's Northcore and Nyimba projects in Zambia and to begin to explore and develop a copper and base metals project in the Democratic Republic of the Congo.
Mukuba is a base metals exploration company based in Toronto.
| Issuer: | Mukuba Resources Ltd.
|
| Issue: | Common shares
|
| Amount: | C$3 million
|
| Shares: | 20 million (4,974,666 in first tranche)
|
| Price: | C$0.15
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 7
|
| Settlement date: | Sept. 27 (for C$746,200)
|
| Stock symbol: | TSX Venture: MKU
|
| Stock price: | C$0.16 at close Sept. 6
|
| Market capitalization: | C$9.18 million
|
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