By Sheri Kasprzak
New York, Oct. 25 - Dynacor Mines Inc. priced a C$3.1 million private placement.
The offering includes up to 7.75 million units at C$0.40 each.
The units consist of one share and one half-share warrant. The whole warrants are exercisable at C$0.50 each for 18 months.
D&D Securities Inc. is the lead agent with Laurentian Bank Securities Inc. as co-agent.
Proceeds will be used for exploration and development on the company's Pasto Bueno tungsten mine.
Dynacor, based in Montreal, is a mineral exploration company focused on properties in Peru.
| Issuer: | Dynacor Mines Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3.1 million
|
| Units: | 7.75 million
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.50
|
| Placement agent: | D&D Securities Inc. (lead), Laurentian Bank Securities Inc.
|
| Pricing date: | Oct. 25
|
| Stock symbol: | TSX Venture: DYN
|
| Stock price: | C$0.42 at close Oct. 25
|
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