By Sheri Kasprzak
New York, April 3 - Coronation Minerals Inc. said has arranged a private placement for up to C$2 million.
The non-brokered offering includes up to 3,571,429 flow-through shares at C$0.28 each and up to 3,571,429 units at C$0.28 each.
The units consist of one share and one warrant. Each warrant is exercisable at C$0.40 each for two years.
The expiry of the warrants will be accelerated to 30 days if the company's stock trades above C$0.80 for 20 consecutive trading days 180 days after the deal closes.
Proceeds will be used for exploration on the company's Wellgreen property and for working capital and general corporate purposes.
Based in Toronto, Coronation is a mineral exploration company.
| Issuer: | Coronation Minerals Inc.
|
| Issue: | Flow-through shares and units of one share and one warrant
|
| Amount: | C$2 million
|
| Placement agent: | Non-brokered
|
| Pricing date: | April 3
|
| Stock symbol: | TSX Venture: CMV
|
| Stock price: | C$0.37 at close April 3
|
|
|
| Flow-through shares
|
| Shares: | 3,571,429
|
| Price: | C$0.28
|
| Warrants: | No
|
|
|
| Units
|
| Units: | 3,571,429
|
| Price: | C$0.28
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
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