By Devika Patel
Knoxville, Tenn., July 16 - Manicouagan Minerals Inc. said it completed a C$2.11 million non-brokered private placement of stock. The company said it had to increase the deal's size due to oversubscription.
The deal priced for C$1.5 million on June 17 and the company raised C$930,000 in the first tranche on June 27.
The company sold 10.55 million flow-through common shares at C$0.20 apiece total. It had planned to sell only 7.5 million shares, but sold 4.65 million shares in the first tranche and 5.9 million shares in this one.
Proceeds will be used for exploration.
Toronto-based Manicouagan is a mineral exploration company.
| Issuer: | Manicouagan Minerals Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$2.11 million
|
| Shares: | 10.55 million
|
| Price: | C$0.20
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | June 17
|
| Upsized: | July 16
|
| Settlement date: | June 27 (for C$930,000), July 16 (for C$1,180,000)
|
| Stock symbol: | TSX Venture: MAM
|
| Stock price: | C$0.175 at close June 16
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
