By Devika Patel
Knoxville, Tenn., July 28 - Creston Moly Corp. said it increased a non-brokered private placement of stock to C$3.74 million from C$3 million due to increased demand. The deal priced July 6.
The company will now sell 16,666,666 common shares at C$0.18 apiece.
The placement will close in two tranches, with the first tranche closing Wednesday for C$3.69 million, or 20,485,000 shares, and the second tranche raising $48,600 through the sale of 270,000 shares. The second tranche is expected to close within two weeks.
Proceeds will be used to advance data collection in order to maintain the schedule for delivery of a definitive feasibility study of the El Creston molybdenum deposit in the second quarter of 2011.
Creston Moly is a Vancouver, B.C., mineral explorer.
| Issuer: | Creston Moly Corp.
|
| Issue: | Common shares
|
| Amount: | C$3,735,900
|
| Shares: | 16,666,666
|
| Price: | C$0.18
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | July 6
|
| Upsized: | July 28
|
| Settlement date: | July 28 (for C$3,687,300)
|
| Stock symbol: | TSX Venture: CMS
|
| Stock price: | C$0.18 at close on July 6
|
| Market capitalization: | C$40.07 million
|
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