Company will use proceeds of financing for general corporate purposes
By Devika Patel
Knoxville, Tenn., Sept. 29 – Morien Resources Corp. said it settled a C$1.45 million oversusbscribed non-brokered private placement of shares. The deal priced for C$1.35 million on Sept. 8.
The company sold 7,236,008 common shares at C$0.20 per share. The per-share price is an 11.11% discount to the closing share price of C$0.225 on Sept. 5.
Altus Securities Inc. and Primary Capital Inc. were paid finder’s fees.
Proceeds will be used for general corporate purposes.
Based in Halifax, N.S., Morien is a Canadian mining exploration and development company with interests in coal, gold, ores and minerals.
| Issuer: | Morien Resources Corp.
|
| Issue: | Common stock
|
| Amount: | C$1,447,202
|
| Shares: | 7,236,008
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| Price: | C$0.20
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| Warrants: | No
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| Pricing date: | Sept. 8
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| Settlement date: | Sept. 29
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| Agent: | Non-brokered
|
| Stock symbol: | TSX Venture: MOX
|
| Stock price: | C$0.225 at close Sept. 5
|
| Market capitalization: | C$10.34 million
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