By Laura Lutz
Des Moines, June 1 - Coronation Minerals Inc. plans to conduct a private placement of units for C$1.5 million.
The placement is expected to include 5 million units of one share and one half-share warrant at C$0.30 per unit. Each whole warrant will be exercisable at C$0.50 for two years.
Proceeds will be used for exploration.
Coronation is a Toronto-based mining company.
Issuer: | Coronation Minerals Inc.
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Issue: | Units of one share and one half-share warrant
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Amount: | C$1.5 million
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Units: | 5 million
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Price: | C$0.30
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Warrants: | One half-share warrant
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Warrant expiration: | Two years
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Warrant strike price: | C$0.50
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Pricing date: | June 1
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Stock symbol: | TSX Venture: CMV
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Stock price: | C$0.33 at close June 1
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