By Sheri Kasprzak
New York, April 20 - MacDonald Mines Exploration Ltd. said it has completed its previously announced private placements for C$1,396,660.
In the brokered deal, MacDonald sold 6,783,000 flow-through units at C$0.12 each and 1.67 million non flow-through units at C$0.11 each.
The flow-through units consist of one share and one half-share warrant with each whole warrant exercisable at C$0.18 for two years.
The non flow-through units are comprised of one share and one warrant with each warrant exercisable at C$0.15 for two years.
Dundee Securities Corp. was the placement agent.
Also, the non-brokered deal was closed. MacDonald issued 2.5 million flow-through units at C$0.12 each.
The flow-through units consist of one share and one half-share warrant with each full warrant exercisable at C$0.18 for two years.
In addition, MacDonald settled a non-brokered C$99,000 offering of 900,000 units at C$0.11 each. The units included one share and one warrant, exercisable at C$0.15 for two years.
Proceeds will be used for exploration on the company's James Bay properties and for working capital and general corporate purposes.
Toronto-based MacDonald is a mineral exploration company.
Brokered issue
| Issuer: | MacDonald Mines Exploration Ltd.
|
| Issue: | Flow-through and non flow-through units
|
| Amount: | C$1,297,660
|
| Placement agent: | Dundee Securities Corp.
|
| Pricing date: | March 28
|
| Settlement date: | April 20
|
| Stock symbol: | TSX Venture: BMK
|
| Stock price: | C$0.135 at close March 28
|
| Stock price: | C$0.18 at close April 20
|
|
|
| Flow-through units
|
| Issue: | Units of one share and one half-share warrant
|
| Units: | 6,783,000
|
| Price: | C$0.12
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.18
|
|
|
| Non flow-through units
|
| Issue: | Units of one share and one warrant
|
| Units: | 1.67 million
|
| Price: | C$0.11
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
|
|
| First non-brokered issue
|
| Issuer: | MacDonald Mines Exploration Ltd.
|
| Issue: | Flow-through units of one share and one half-share warrant
|
| Amount: | C$300,000
|
| Units: | 2.5 million
|
| Price: | C$0.12
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.18
|
| Placement agent: | Non-brokered
|
| Pricing date: | March 28
|
| Settlement date: | April 20
|
| Stock symbol: | TSX Venture: BMK
|
| Stock price: | C$0.135 at close March 28
|
| Stock price: | C$0.18 at close April 20
|
|
|
| Second non-brokered issue
|
| Issuer: | MacDonald Mines Exploration Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$99,000
|
| Units: | 900,000
|
| Price: | C$0.11
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
| Placement agent: | Non-brokered
|
| Settlement date: | April 20
|
| Stock symbol: | TSX Venture: BMK
|
| Stock price: | C$0.18 at close April 20
|
|
|
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