By Sheri Kasprzak
Atlanta, March 4 - Marathon PGM Corp. said it will raise up to C$2 million in a private placement.
The company plans to sell up to 606,061 flow-through shares at C$1.65 each for a maximum of C$1 million.
The remainder of the deal will be in units at C$1.40 each. The units are comprised of one share and one half-share warrant.
The whole warrants allow for an additional share at C$1.90 each for two years.
Northern Securities Inc. is the placement agent in the deal, which is expected to close March 29.
Based in Toronto, Marathon is a mineral exploration and development company. It plans to use the proceeds to fund its 2005 exploration and development program.
| Issuer: | Marathon PGM Corp.
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| Issue: | Flow-through shares and units of one share and one half-share warrant
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| Amount: | C$2 million
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| Pricing date: | March 4
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| Settlement date: | March 29
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| Stock price: | C$1.70 at close March 3
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|
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| Flow-through shares
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| Issue: | Flow-through common shares
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| Shares: | 606,061 (maximum)
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| Price: | C$1.65
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| Warrants: | No
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| Units
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| Issue: | Units of one share and one half-share warrant
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| Price: | C$1.40
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$1.90
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