Funds from non-brokered deal for Lindero Gold Project, working capital
By Marisa Wong
Madison, Wis., Nov. 3 - Mansfield Minerals Inc. said it will raise C$2.3 million through a non-brokered private placement of units.
The company will sell 1 million units at C$2.30 per unit. Each unit will consist of one common share and one half-share warrant.
Each whole warrant is exercisable at C$2.75 per share for 18 months from closing. The strike price represents a 3.77% premium to the Nov. 2 closing share price of C$2.65.
Proceeds will be used for the completion of the feasibility study on the Lindero Gold Project and for general working capital purposes.
Mansfield is a Vancouver, B.C.-based mineral exploration and development company.
| Issuer: | Mansfield Minerals Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2.3 million
|
| Units: | 1 million
|
| Price: | C$2.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$2.75
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 3
|
| Stock symbol: | TSX Venture: MDR
|
| Stock price: | C$2.65 at close Nov. 2
|
| Market capitalization: | C$126.95 million
|
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