By Laura Lutz
Des Moines, Nov. 7 - Dynacor Mines Inc. closed a private placement for C$3.15 million.
The company sold 7,875,000 units of one share and one half-share warrant at C$0.40 per unit. Each warrant will be exercisable at C$0.50 until May 3, 2008.
D & D Securities Inc. acted as lead agent, and Laurentian Bank Securities Inc. was co-agent.
Proceeds will be used for exploration and valorization of the company's Pasto Bueno property in Peru.
Dynacor is a mining company based in Montreal.
| Issuer: | Dynacor Mines Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3.15 million
|
| Units: | 7,875,000
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | May 3, 2008
|
| Warrant strike price: | C$0.50
|
| Agents: | D & D Securities Inc. (lead), Laurentian Bank Securities Inc.
|
| Settlement date: | Nov. 7
|
| Stock symbol: | TSX Venture: DYN
|
| Stock price: | C$0.42 at close Nov. 6
|
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