By Laura Lutz
Washington, March 9 - McVicar Resources Inc. arranged a private placement of shares for about C$2.5 million.
The company plans to sell about 2.7 million shares at C$0.90 each.
Proceeds of the non-brokered deal will be used to complete a payment to shareholders of McVicar (Hong Kong) Advanced Materials Co. Ltd.
McVicar is a mineral exploration, chemical production and technology company based in Toronto.
| Issuer: | McVicar Resources Inc.
|
| Issue: | Shares
|
| Amount: | C$2.5 million (approximate)
|
| Shares: | 2.7 million (approximate)
|
| Price: | C$0.90
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | March 9
|
| Stock symbol: | TSX Venture: MCV
|
| Stock price: | C$0.83 at close March 9
|
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