By Sheri Kasprzak
New York, Feb. 6 - MacMillan Gold Corp. has completed an oversubscribed private placement for C$2.5 million.
The company issued 10 million units of one share and one warrant. The full warrants allow for the purchase of another share at C$0.35 each for the first year and at C$0.50 each for the second year.
The units were issued to four institutional investors, 43 individual investors and four companies.
Proceeds will be used for exploration and working capital.
The deal was priced on Jan. 31 as a C$2 million offering of 8 million units at the same price.
Based in Toronto, MacMillan is a gold and silver exploration company.
Issuer: | MacMillan Gold Corp.
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Issue: | Units of one share and one warrant
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Amount: | C$2.5 million
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Units: | 10 million
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Price: | C$0.25
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.35 for the first year; C$0.50 for the second year
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Placement agent: | Non-brokered
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Pricing date: | Jan. 31
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Settlement date: | Feb. 6
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Stock symbol: | TSX Venture: MMG
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Stock price: | C$0.27 at close Jan. 31
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Stock price: | C$0.375 at close Feb. 6
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