Offering finances planned exploration work on company's Zeus property
By Devika Patel
Knoxville, Tenn., Dec. 23 - Matamec Explorations Inc. said it completed a private placement of units and shares. The deal raised C$1.15 million.
The company sold 2.85 million units of one common share and one half-share warrant at C$0.40 apiece and 20,000 flow-through common shares at C$0.50 per share.
Each whole warrant is exercisable at C$0.50 until June 23, 2012. The strike price and price per share is a 4.17% premium to the Dec. 22 closing share price of C$0.48.
Proceeds will be used for exploration work on the Zeus rare earths-yttrium-zirconium-niobium-tantalum property.
Matamec is a gold, base metals and platinum exploration company based in Montreal.
| Issuer: | Matamec Explorations Inc.
|
| Issue: | Units of one common share and one half-share warrant, flow-through common shares
|
| Amount: | C$1.15 million
|
| Settlement date: | Dec. 23
|
| Stock symbol: | TSX Venture: MAT
|
| Stock price: | C$0.49 at close Dec. 23
|
| Market capitalization: | C$46.99 million
|
|
|
| Units
|
| Amount: | C$1.14 million
|
| Units: | 2.85 million
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | June 23, 2012
|
| Warrant strike price: | C$0.50
|
|
|
| Shares
|
| Amount: | C$10,000
|
| Shares: | 20,000
|
| Price: | C$0.50
|
| Warrants: | No
|
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