Non-brokered 8 million-unit offering to fund acquisition, development
By Jennifer Chiou
New York, Oct. 5 - Maestro Ventures Ltd. announced a private placement of 8 million units at C$0.18 each, resulting in proceeds of C$1.44 million.
Each unit consists of one common share and one half-share warrant, with each two-year warrant exercisable at C$0.25, a 316.67% premium to the company's closing share price on Monday.
Proceeds will be used to further the company's acquisition and development program as well as for working capital purposes.
In other news, the company announced that it has consolidated its capital on a three-for-one basis, while also changing its name to Invenio Resources Corp.
The mining company is based in Vancouver, B.C.
| Issuer: | Invenio Resources Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.44 million
|
| Units: | 8 million
|
| Price: | C$0.18
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Pricing date: | Oct. 4
|
| Stock symbol: | TSX Venture: MAP
|
| Stock price: | C$0.06 at close Oct. 4
|
| Market capitalization: | C$1.45 million
|
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