Non-brokered offering funds exploration; shares sold at C$0.25 apiece
By Devika Patel
Knoxville, Tenn., Dec. 12 – Foran Mining Corp. said it has arranged a C$1.6 million non-brokered private placement of stock.
The company will sell 6.4 million flow-through common shares at C$0.25 per share, a 13.64% premium to the Dec. 11 closing share price of C$0.22.
Settlement is expected Dec. 19.
Proceeds will be used for exploration.
Foran is a copper, zinc, gold and silver mining company based in Vancouver, B.C.
| Issuer: | Foran Mining Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$1.6 million
|
| Shares: | 6.4 million
|
| Price: | C$0.25
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 12
|
| Settlement date: | Dec. 19
|
| Stock symbol: | TSX Venture: FOM
|
| Stock price: | C$0.22 at close Dec. 11
|
| Market capitalization: | C$17.01 million
|
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