Units sold at $0.15 apiece with two-year warrants exercisable at $0.25
By Devika Patel
Knoxville, Tenn., May 30 - Zoro Mining Corp. completed a $291,500 private placement of units on May 29, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 1,943,334 units of one common share and a half-share warrant at $0.15 per unit.
The warrants will be exercisable at $0.25 until May 29, 2014. The strike price is a 78.57% premium to the May 25 closing share price of $0.14.
The Tucson, Ariz., company explores for copper and gold.
| Issuer: | Zoro Mining Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | $291,500
|
| Units: | 1,943,334
|
| Price: | $0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | May 29, 2014
|
| Warrant strike price: | $0.25
|
| Settlement date: | May 29
|
| Stock symbol: | OTCBB: ZORM
|
| Stock price: | $0.14 at close May 25
|
| Market capitalization: | $8.17 million
|
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