By Sheri Kasprzak
Atlanta, Feb. 2 - Manicouagan Minerals Inc. has wrapped an upsized private placement for C$5,826,800.
The company sold 15,099,000 units at C$0.20 each and 11,228,000 flow-through units at C$0.25 each.
The common share units are comprised of one common share and one half-share warrant. The whole warrants allow for an additional share at C$0.25 each through Dec. 23, 2006.
The flow-through units are comprised of one flow-through share and one half-share warrant. The warrants have the same terms as the warrants included in the common-share units.
A greenshoe was exercised in the offering for 1.5 million units at C$0.20 each for an additional C$300,000.
The offering first closed Dec. 23 for C$5,526,800. The original offering included 13,599,000 common-share units and 11,228,000 flow-through units under the same terms of the greenshoe.
First Associates Investments Inc., Desjardins Securities Inc., and Paradigm Capital Inc. were the placement agents in the offering.
Toronto-based Manicouagan is a nickel and copper exploration company. The proceeds from the offering will be used for the company's exploration of the Manicouagan meteorite impact crater in central Quebec.
| Issuer: | Manicouagan Minerals Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$5,826,800
|
| Placement agents: | First Associates Investments Inc., Desjardins Securities Inc., Paradigm Capital Inc.
|
| Settlement date: | Dec. 23
|
| Greenshoe exercised: | Feb. 2
|
| Stock price: | C$0.22 at close Feb. 1
|
|
|
| Flow-through units
|
| Issue: | Flow-through units of one share and one half-share warrant
|
| Units: | 11,228,000
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Dec. 23, 2006
|
| Warrant strike price: | C$0.25
|
|
|
| Common-share units
|
| Issue: | Units of one share and one half-share warrant
|
| Units: | 15,099,000
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Dec. 23, 2006
|
| Warrant strike price: | C$0.25
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
