By Devika Patel
Knoxville, Tenn., July 11 - Mantis Mineral Corp. said it has completed the first tranche of $1.52 million private placement of units, raising C$1.45 million. The deal priced on June 18.
The company sold 6,312,000 units at C$0.23 apiece in this tranche. It plans to sell up to 6.6 million units total. Each unit consists of one flow-through common share and one half-share warrant.
Each whole warrant is exercisable at C$0.35 for one year.
Citadel Securities Inc. is the agent.
Mantis is a Toronto-based exploration company with gold and base metal properties.
| Issuer: | Mantis Mineral Corp.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$1,518,000
|
| Units: | 6.6 million
|
| Price: | C$0.23
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.35
|
| Agent: | Citadel Securities Inc.
|
| Pricing date: | June 18
|
| Settlement date: | July 11 (for C$1,451,760)
|
| Stock symbol: | CNQ: MINE
|
| Stock price: | C$0.245 at close July 11
|
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