Non-brokered deal funds work program at James Bay Niobium Project
By Devika Patel
Knoxville, Tenn., Aug. 4 – MDN Inc. said it settled a C$1.8 million non-brokered private placement of stock. The deal priced for C$1.4 million on July 26.
The company sold 35.9 million common shares at C$0.05 apiece, a 28.57% discount to the July 25 closing share price of C$0.07.
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
|
| Amount: | C$1,795,000
|
| Shares: | 35.9 million
|
| Price: | C$0.05
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | July 26
|
| Settlement date: | Aug. 4
|
| Stock symbol: | TSX Venture: MDN
|
| Stock price: | C$0.07 at close July 25
|
| Market capitalization: | C$9.75 million
|
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