By Devika Patel
Knoxville, Tenn., May 20 - Mantra Mining Inc. said it completed a C$5.07 million oversubscribed non-brokered private placement of units. The deal priced for C$5 million on May 6.
The company sold 14,471,757 units of one common share and one half-share warrant at C$0.35 per unit. The whole three-year warrants are exercisable at C$0.50.
Proceeds will be used for exploration and for general working capital and other corporate purposes.
Based in Vancouver, B.C., Mantra is a mineral exploration company.
| Issuer: | Mantra Mining Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$5,065,115
|
| Units: | 14,471,757
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | May 6
|
| Stock symbol: | TSX Venture: MAN
|
| Stock price: | C$2.45 at close May 6
|
| Market capitalization: | C$42.1 million
|
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