Published on 10/19/2009 in the Prospect News PIPE Daily.
New Issue: Matamec Explorations concludes C$1.53 million placement of equity units
By Devika Patel
Knoxville, Tenn., Oct. 19 - Matamec Explorations Inc. said it settled a C$1.53 million private placement of units. The deal priced for C$1.5 million Oct. 5.
The company sold 8,527,555 units at C$0.18 apiece. Each unit consists of one common share and one half-share warrant, with each whole two-year warrant exercisable at C$0.25 in the first year and at C$0.35 thereafter.
Proceeds will be used for general working capital.
Matamec is a mining exploration company based in Montreal.
Issuer: | Matamec Explorations Inc.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$1,534,968
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Units: | 8,527,555
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Price: | C$0.18
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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$0.25 in the first year, C$0.35 thereafter
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Pricing date: | Oct. 5
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Settlement date: | Oct. 19
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Stock symbol: | TSX Venture: MAT
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Stock price: | C$0.235 at close Oct. 2
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Market capitalization: | C$15.2 million
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