By Sheri Kasprzak
New York, Nov. 30 - Mandorin Goldfields Inc. said it has arranged a private placement for up to C$1.6 million.
The company intends to sell up to 22,857,143 shares at C$0.07 each.
The offering is non-brokered.
Proceeds will be used for due diligence on prospective projects and for the progression of the proposed acquisition of the Klipwal Mine from Duration Gold Ltd. The rest will be used for working capital.
Based in Vancouver, B.C., Mandorin is a gold and copper-gold exploration company.
| Issuer: | Mandorin Goldfields Inc.
|
| Issue: | Stock
|
| Amount: | C$1.6 million (maximum)
|
| Shares: | 22,857,143 (maximum)
|
| Price: | C$0.07
|
| Warrants: | No
|
| Placement agent: | Non-brokered
|
| Pricing date: | Nov. 30
|
| Stock price: | C$0.06 at close Nov. 29
|
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