Proceeds develop gold, copper and molybdenum explorer's properties
By Devika Patel
Knoxville, Tenn., March 31 - Tosca Mining Corp. said it completed a C$5.26 million non-brokered private placement of units. The deal priced for C$3.5 million on March 3 and was increased to C$5.01 million on March 8.
The company sold 15,024,499 units of a common share and one warrant at C$0.35 per unit.
Each whole warrant is exercisable at C$0.45 for one year. The strike price reflects a 2.27% premium to the March 2 closing share price of C$0.44.
Proceeds will be used to develop the company's properties.
The Vancouver, B.C., company explores for gold, copper and molybdenum.
| Issuer: | Tosca Mining Corp.
|
| Issue: | Units of a common share and one warrant
|
| Amount: | C$5,258,575
|
| Units: | 15,024,499
|
| Price: | C$0.35
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.30
|
| Agents: | Non-brokered
|
| Pricing date: | March 3
|
| Upsized: | March 8
|
| Settlement date: | March 31
|
| Stock symbol: | TSX Venture: TSQ
|
| Stock price: | C$0.41 at close March 3
|
| Market capitalization: | C$7.25 million
|
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