By Devika Patel
Knoxville, Tenn., Dec. 18 - Marathon PGM Corp. said it has completed the first tranche of a C$2 million non-brokered private placement of stock, raising C$1.21 million. The deal priced Dec. 9.
The company is selling 1.6 million flow-through common shares at C$1.25 apiece. It sold 966,000 shares in this tranche.
Proceeds will be used for exploration.
Based in Toronto, Marathon PGM acquires, explores and develops natural resource properties.
| Issuer: | Marathon PGM Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$2 million
|
| Shares: | 1.6 million
|
| Price: | C$1.25
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 9
|
| Settlement date: | Dec. 18 (for C$1,207,500)
|
| Stock symbol: | Toronto: MAR
|
| Stock price: | C$1.10 at close Dec. 8
|
| Market capitalization: | C$31.5 million
|
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