Non-brokered deal funds work program at James Bay Niobium Project
By Devika Patel
Knoxville, Tenn., July 26 – MDN Inc. said it has arranged a C$1.4 million non-brokered private placement of stock.
The company will sell 28 million common shares at C$0.05 apiece, a 28.57% discount to the July 25 closing share price of C$0.07.
Settlement is expected Aug. 4.
Proceeds will be used to begin a work program at the James Bay Niobium Project and for general working capital.
The Montreal company explores for niobium and tantalum.
| Issuer: | MDN Inc.
|
| Issue: | Common shares
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| Amount: | C$1.4 million
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| Shares: | 28 million
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| Price: | C$0.05
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| Warrants: | No
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| Agent: | Non-brokered
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| Pricing date: | July 26
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| Settlement date: | Aug. 4
|
| Stock symbol: | TSX Venture: MDN
|
| Stock price: | C$0.07 at close July 25
|
| Market capitalization: | C$7.45 million
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