New Issue: Moto Goldmines to sell C$7.56 million of stock in private placement

By Devika Patel

Knoxville, Tenn., Dec. 31 - Moto Goldmines Ltd. said it will conduct a private placement of shares to raise C$7.56 million.

Moto will sell 2,717,874 common shares at C$2.78 each to the company's chairman, Sam Jonah.

Based in Perth, Western Australia, Moto is a gold exploration company.

Issuer:	Moto Goldmines Ltd.
Issue:	Common shares
Amount:	C$7,555,689.72
Shares:	2,717,874
Price:	C$2.78
Warrants:	No
Investor:	Sam Jonah
Pricing date:	Dec. 31
Stock symbol:	Toronto: MGL
Stock price:	C$2.71 at close Dec. 28

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