By Devika Patel
Knoxville, Tenn., Oct. 19 - Mantis Mineral Corp. said it has completed a private placement of units, raising C$1.4 million.
The company sold 4,000,000 units at C$0.35 apiece. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.50 for two years.
Citadel Securities Inc. and HDL Capital Corp. were the agents. The companies were paid C$112,000 and 400,000 warrants, which are exercisable at C$0.35 for two years.
Proceeds will be used for exploration and general working capital.
Mantis is a Toronto-based exploration company with gold and base metal properties.
| 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
|
| Agents: | Citadel Securities Inc. and HDL Capital Corp.
|
| Fees: | C$112,000 and 400,000 warrants
|
| Pricing date: | Oct. 18
|
| Settlement date: | Oct. 19
|
| Stock symbol: | CNQ: MINE
|
| Stock price: | C$0.49 at open Oct. 18
|
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