Units consist of shares and either 20 kg of silver or 150,000 warrants
By Devika Patel
Knoxville, Tenn., Oct. 14 - Maya Gold & Silver Inc. said it plans a C$6.3 million private placement of units.
The company will sell up to 70 units at C$90,000.00 apiece. Each unit consists of 300,000 common shares and either two silver ingots of 10 kilograms each or 150,000 warrants.
Each warrant will be exercisable at C$0.70 until April 30, 2013. The strike price reflects a 105.88% premium to the Oct. 13 closing share price of C$0.34.
Proceeds will be use for initial commitments in connection with the Zgounder silver mine acquisition and other projects in Morocco and for general corporate working capital.
Based in Montreal, Maya Gold & Silver mines for base and precious metals.
| Issuer: | Maya Gold & Silver Inc.
|
| Issue: | Units of 300,000 common shares and either two silver ingots of 10 kilograms each or 150,000 warrants
|
| Amount: | C$6.3 million
|
| Units: | 70
|
| Price: | C$90,000.00
|
| Warrants: | Potentially 150,000 warrants per unit
|
| Warrant expiration: | April 30, 2013
|
| Warrant strike price: | C$0.70
|
| Pricing date: | Oct. 14
|
| Stock symbol: | TSX Venture: MYA
|
| Stock price: | C$0.34 at close Oct. 13
|
| Market capitalization: | C$16.99 million
|
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