By Sheri Kasprzak
Atlanta, Feb. 4 - Madison Minerals Inc. has wrapped a private placement for C$2,375,815.
The company sold, in two separate tranches, a total of 3,655,100 units at C$0.65 each.
The units are comprised of one share and one warrant. The warrants allow for an additional share at C$0.90 each for 18 months.
The first tranche closed Dec. 9 for 1,056,000 units, and the second tranche closed Feb. 3 for 2,599,100 units.
Canaccord Capital Corp. was the placement agent in the offering.
Madison is a Vancouver, B.C.-based mineral exploration company. It plans to use the proceeds from the private placement for exploration on its Mt. Kare property in Papua, New Guinea.
| Issuer: | Madison Minerals Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$2,375,815
|
| Units: | 3,655,100
|
| Price: | C$0.65
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.90
|
| Placement agent: | Canaccord Capital Corp.
|
| Pricing date: | Nov. 12
|
| Settlement date: | Feb. 3
|
| Stock price: | C$0.75 at close Nov. 12
|
| Stock price: | C$0.68 at close Feb. 3
|
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