By Devika Patel
Knoxville, Tenn., July 22 - Mahdia Gold Corp. said it plans a C$2 million private placement of units.
The company will sell 10 million units of one common share and one half-share warrant at C$0.20 per unit. Each whole two-year warrant will be exercisable at C$0.40.
Proceeds will be used for property acquisitions and working capital purposes.
Mahdia, formerly known as Wintercrest Resources Ltd., is a Mississauga, Ont., mineral rights holder of gold-bearing properties.
| Issuer: | Mahdia Gold Corp.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 10 million
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Pricing date: | July 22
|
| Stock symbol: | Canada: MGD
|
| Stock price: | C$0.16 at close July 22
|
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