Non-brokered offering priced at 16.67% discount to closing share price
By Devika Patel
Knoxville, Tenn., Jan. 18 - Zazu Metals Corp. said it plans a non-brokered private placement of stock. The deal will raise C$2.25 million.
The company will sell 5 million common shares at C$0.45 per share, a 16.67% discount to the Jan. 17 closing share price of C$0.54.
Proceeds will be used to complete a suite of studies on the Lik Deposit and for general corporate overhead.
Zazu Metals, based in Vancouver, B.C., is a base metals exploration company.
| Issuer: | Zazu Metals Corp.
|
| Issue: | Common shares
|
| Amount: | C$2.25 million
|
| Shares: | 5 million
|
| Price: | C$0.45
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 18
|
| Stock symbol: | Toronto: ZAZ
|
| Stock price: | C$0.60 at close Jan. 18
|
| Market capitalization: | C$18.4 million
|
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