By Laura Lutz
Washington, Dec. 15 - Murgor Resources Inc. closed its previously announced private placement of units for C$6 million, including a C$1 million greenshoe.
The company sold 16 million flow-through units at C$0.25 each and 10 million non flow-through units at C$0.20 each.
Each flow-through unit consists of one flow-through share and one half-share warrant with each whole warrant exercisable for one non flow-through share at C$0.35 for 18 months.
Each non flow-through unit consists of one non flow-through share and one half-share warrant with each whole warrant exercisable for one non flow-through share at C$0.30 for two years.
The deal priced on Nov. 21 as a C$5 million offering of an unspecified number of flow-through and non flow-through units.
The deal will be managed by a syndicate of agents led by Loewen, Ondaatje, McCutcheon Ltd.
Settlement is subject to conditions including due diligence by the agents and regulatory approvals.
Proceeds will be used for exploration in the Flin Flon belt of Manitoba and Saskatchewan and for general corporate purposes.
Following the placement, the company has 107,410,158 common shares outstanding.
Murgor is a mineral exploration company based in Montreal.
| Issuer: | Murgor Resources Inc.
|
| Issue: | Units of one flow-through share and one non flow-through warrant and units of one non flow-through share and one non flow-through warrant
|
| Amount: | C$6 million (includes greenshoe for C$1 million)
|
| Agents: | Loewen, Ondaatje, McCutcheon Ltd. (lead)
|
| Pricing date: | Nov. 21
|
| Settlement date: | Dec. 15
|
| Stock symbol: | TSX Venture: MUG
|
| Stock price: | C$0.225 at close Nov. 20
|
| Stock price: | C$0.275 at close Dec. 15
|
|
|
| Flow-through units
|
| Units: | 16 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.35
|
|
|
| Non flow-through units
|
| Units: | 10 million
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
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