By Devika Patel
Knoxville, Tenn., Jan. 2 - Murgor Resources Inc. said it has completed a C$1.45 million private placement of shares.
The company sold 2,071,426 flow-through common shares at C$0.70 each to four limited partnerships associated with MineralFields Group.
Murgor paid Limited Market Dealer Inc. a finder's fee of 82,857 common shares and a compensation option exercisable for 165,714 units at C$0.70 per unit until Dec. 31, 2008.
Each unit will be comprised of one common share and one warrant. Each two-year warrant will be exercisable at C$1.40 until Dec. 31, 2008 and at C$2.10 thereafter.
Murgor also paid Limited Market Dealer a C$58,000 due diligence fee.
Proceeds will be used for exploration.
Murgor is a Montreal-based mineral exploration company with a focus on zinc, copper and gold exploration.
| Issuer: | Murgor Resources Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$1.45 million
|
| Shares: | 2,071,426
|
| Price: | C$0.70
|
| Warrants: | No
|
| Investor: | MineralFields Group
|
| Fees: | 82,857 common shares, a compensation option exercisable for 165,714 units, C$58,000
|
| Settlement date: | Jan. 2
|
| Stock symbol: | TSX Venture: MGR
|
| Stock price: | C$0.57 at close Jan. 2
|
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