By Devika Patel
Knoxville, Tenn., Dec. 10 - Mantra Resources Ltd. said that, in addition to a C$12 million private placement of stock with Highland Park SA that priced Dec. 8, it also will raise C$3.2 million in a private placement of stock with AngloPacific Group plc.
The company will sell 3 million ordinary shares at C$4.00 apiece to Highland Park and 800,000 shares at the same price to AngloPacific.
Settlement of both deals is expected Dec. 23.
Proceeds will be used to complete feasibility studies on the Mkuju River Project and for the ongoing appraisal and development of the project.
Based in Perth, Western Australia, Mantra is a mineral exploration company.
| Issuer: | Mantra Resources Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | C$15.2 million
|
| Shares: | 3.8 million
|
| Price: | C$4.00
|
| Warrants: | No
|
| Investors: | Highland Park SA (for C$12 million), AngloPacific Group plc (for C$3.2 million)
|
| Pricing date: | Dec. 8 (for C$12 million), Dec. 10 (for C$3.2 million)
|
| Settlement date: | Dec. 23
|
| Stock symbol: | Toronto: MRL
|
| Stock price: | C$4.35 at close Dec. 8
|
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