New Issue: Mantis raises C$1.62 million in placement of units, stock; another C$1.4 million deal planned

By Devika Patel

Knoxville, Tenn., Oct. 18 - Mantis Mineral Corp. said it has completed a private placement of units and shares raising C$1,624,600. The company also said it plans another placement to raise C$1.4 million.

The company sold 7,019,332 units at C$0.225 apiece. Each unit consists of one common share and one flow through share.

The company also sold 402,222 common shares at C$0.1125 each.

Citadel Securities Inc. was the agent. Citadel received a C$78,822.50 commission, a work fee equal to $36,500, 222,222 common shares, 1,020,000 compensation options and 222,222 agent's warrants. Each compensation option and agent's warrant is exercisable for one common share at C$0.1125 for two years.

Proceeds will be used for exploration and general working capital.

Mantis also announced that it will be closing another C$1.4 million private placement of units. The company will sell 4,000,000 units at C$0.35 per unit. Each unit will consist of one common share and one half share warrant. Each whole warrant will be exercisable at C$0.50 for two years.

Mantis is a Toronto-based exploration company with gold and base metal properties.

First placement

Issuer:	Mantis Mineral Corp.
Issue:	Units of one common share and one flow through share, common shares
Amount:	C$1,624,600
Agents:	Citadel Securities Inc.
Fees:	C$78,822.50 commission, work fee equal to $36,500, 222,222 common shares, 1,020,000 compensation options, 222,222 agent's warrants
Settlement date:	Oct. 18
Stock symbol:	CNQ: MINE
Stock price:	C$0.49 at open Oct. 18
Units
Units:	7,019,332
Price:	C$0.225
Warrants:	No
Shares
Shares:	402,222
Price:	C$0.1125
Warrants:	No
Second placement
Issuer:	Mantis Mineral Corp.
Issue:	Units of one common share and one half share warrant
Amount:	C$1.4 million
Units:	4,000,000
Price:	C$0.35
Warrants:	One half warrant per unit
Warrant expiration:	Two years
Warrant strike price:	C$0.50
Pricing date:	Oct. 18
Stock symbol:	CNQ: MINE
Stock price:	C$0.49 at open Oct. 18

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