Company to issue between 4.8 million and 14 million units in offering
By Devika Patel
Knoxville, Tenn., April 11 - Mahdia Gold Corp. said it plans a private placement of units to raise between C$1.2 million and C$3.5 million.
The company will sell between 4.8 million and 14 million units of one common share and one half-share warrant at C$0.25 per unit. Each whole two-year warrant will be exercisable at C$0.45, a 12.5% premium to the April 11 closing share price of $0.40.
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$1.2 million (minimum), C$3.5million (maximum)
|
| Units: | 4.8 million (minimum), 14 million (maximum)
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.45
|
| Pricing date: | April 11
|
| Stock symbol: | CNSX: MGD
|
| Stock price: | C$0.40 at close April 11
|
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