By Devika Patel
Knoxville, Tenn., May 12 - Lincoln Mining Corp. said it will raise C$5.5 million in a brokered and non-brokered private placement of units. The C$3.5 million brokered portion of the deal will be conducted via agent Casimir Capital LP on a best-efforts basis.
The company will sell 25 million units of one common share and one half-share warrant at C$0.22 per unit.
Each whole warrant is exercisable at C$0.35 for two years.
Proceeds will be used to advance development of the company's mineral properties and for general working capital.
Based in Vancouver, B.C., Lincoln Mining is a capital pool company.
| Issuer: | Lincoln Mining Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$5.5 million
|
| Units: | 25 million
|
| Price: | C$0.22
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.35
|
| Agent: | Casimir Capital LP (for C$3.5 million), non-brokered (for C$2 million)
|
| Pricing date: | May 12
|
| Stock symbol: | TSX Venture: LMG
|
| Stock price: | C$0.225 at close May 11
|
| Market capitalization: | C$15.1 million
|
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