Proceeds are earmarked for exploration; shares priced at C$0.45 each
By Devika Patel
Knoxville, Tenn., Feb. 1 - VMS Ventures Inc. said it will conduct a C$2 million private placement of stock.
The company will sell 4,444,444 flow-through shares at C$0.45 per share. The price per share reflects a 13.92% premium to the Jan. 31 closing share price of C$0.395.
Settlement is expected Feb. 22.
Proceeds will be used for exploration in Manitoba.
VMS Ventures is a copper-zinc-gold-silver massive sulphide exploration company based in Vancouver, B.C.
| Issuer: | VMS Ventures Inc.
|
| Issue: | Flow-through shares
|
| Amount: | C$2 million
|
| Shares: | 4,444,444
|
| Price: | C$0.45
|
| Warrants: | No
|
| Pricing date: | Feb. 1
|
| Settlement date: | Feb. 22
|
| Stock symbol: | TSX Venture: VMS
|
| Stock price: | C$0.395 at close Jan. 31
|
| Market capitalization: | C$51.88 million
|
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