New Issue: Malaga wraps C$5.37 million private placement of common-share units

By Devika Patel

Knoxville, Tenn., June 23 - Malaga Inc. said it raised C$2.63 million in the second tranche of a C$5.37 million non-brokered private placement of units. The company took in C$2.75 million in the first tranche on May 5.

The company sold 18,321,667 units of one common share and one warrant at C$0.15 each in the first tranche and 17.5 million units in the second. The warrants are exercisable at C$0.25 each for two years.

Proceeds will be used for the upgrade of the mill at Pasto Bueno, for the installation of additional equipment to improve recoveries, for exploration and resource definitional drilling activities and for general corporate purposes.

Based in Montreal, Malaga is a tungsten mining company.

Issuer:	Malaga Inc.
Issue:	Units of one common share and one warrant
Amount:	C$5,373,250
Units:	35,821,667
Price:	C$0.15
Warrants:	One warrant per unit
Warrant expiration:	Two years
Warrant strike price:	C$0.25
Agent:	Non-brokered
Settlement date:	May 5 (for C$2.75 million), June 23 (for C$2,625,000)
Stock symbol:	Toronto: MLG
Stock price:	C$0.11 at close May 5
Market capitalization:	C$21.6 million

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