By Devika Patel
Knoxville, Tenn., Dec. 15 - Murgor Resources Inc. said it has arranged a C$1 million private placement of units.
The company will sell 7 million flow-through units of one flow-through common share and one half-share warrant at C$0.10 each for C$700,000.
Each whole two-year warrant is exercisable at C$0.25 for the first year and at C$0.40 thereafter.
It also will sell 3.75 million units at C$0.08 apiece for C$300,000. Each unit consists of one common share and one warrant.
Each two-year warrant is exercisable at C$0.15 for the first year and at C$0.25 thereafter.
Northern Securities Inc. is the agent.
Proceeds will be used for exploration, working capital and general corporate purposes.
Murgor is a mineral exploration company a focus on zinc, copper and gold exploration. The company is based in Montreal.
| Issuer: | Murgor Resources Inc.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant, units of one common share and one warrant
|
| Amount: | C$1 million
|
| Agent: | Northern Securities Inc.
|
| Pricing date: | Dec. 15
|
| Stock symbol: | TSX Venture: MGR
|
| Stock price: | C$0.085 at close Dec. 12
|
|
|
| Flow-through units
|
| Amount: | C$700,000
|
| Shares: | 7 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25 the first year, C$0.40 thereafter
|
|
|
| Units
|
| Amount: | C$300,000
|
| Units: | 3.75 million
|
| Price: | C$0.08
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15 the first year, C$0.25 thereafter
|
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